A sharp decline in oil prices in the global oil market

A sharp decline in oil prices in the global oil market

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Despite the decrease in oil prices in the world market, the prices of petroleum products are continuously increasing in pakistan – Photo: File A clear decrease in oil prices has been recorded in the world oil market. According to foreign news agencies, American crude oil The price has dropped by 6.39% to 66.77 dollars per barrel. The price of British Brent crude oil has decreased by 6% to 72.80 dollars per barrel. In addition, the price of gas has also decreased by six and a half percent. The price of coal has also decreased in the world market. Currently, the price of coal is 137 dollars per ton, after the Ukraine-Russia war, the price of coal has reached 450 dollars per ton. If coal is cheap, pakistan‘s power generation and cement companies will benefit. If the prices of gas and oil remain low in the global market, pakistan will be able to get relief for the purchase of oil and gas in the future. Despite the reduction in prices, the prices of petroleum products in pakistan are continuously increasing, mainly due to IMF conditions.

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