Crude oil prices dip further in global market

Moscow: Following the fall in crude oil prices in the global market, there is a possibility of decrease in the prices of petroleum products in Pakistan.

According to international media, Brent crude futures fell by 15 cents to settle at $82.95 per barrel during trading today (Thursday).

The media reports stated that the price of petrol in Pakistan is expected to decrease by more than Rs7 from December 1, while the price of High-Speed Diesel (HSD) is expected to fall by more than Rs6.

The caretaker prime minister Anwaar-ul-Haq Kakar will take the final decision regarding the prices based on the summary sent by Oil and Gas Regulatory Authority (OGRA).

It is pertinent to note that after US and British crude oil in the global market, the price of Russian crude oil is also declining.

According to the international media, the price of Russian oil per barrel has fallen below 60 dollars in the market. The limit of 60 dollars per barrel of Russian oil has been set by the European Union, however the price of Russian oil in the market has gone below the specified limit.