POL prices may go down in Pakistan on Dec 1

Islamabad:  A significant relief is expected for consumers in the country on December 1 as the prices of the petroleum products expected to go down.

The recent developments in the global crude oil market point towards a further decline.

The per barrel price of Russian oil has dipped below $60, surpassing the European Union's designated limit. Despite the set threshold, the market value for Russian oil has experienced a decline.

Internationally, British Brent recorded a one percent decrease, settling at $80.58 per barrel, while American West Texas Intermediate has seen a two percent decrease, trading at $75.54 per barrel.

The global downtrend in crude oil prices is foreseen to translate into a notable reduction in petroleum product prices within Pakistan.