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Pakistan Slashes Petrol Prices as Global Oil Markets Calm

Guavy AI Editorial Team
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Oil
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Pakistan's Energy Ministry announced on Monday that it has slashed the price of petrol by Rs4.08 per liter, following the easing of tensions between the United States and Iran.

Oil prices worldwide have seen a significant drop due to the reduced hostilities, with Brent crude futures sliding $4.49 or 5.11 percent to $83.44 on Monday. The US West Texas Intermediate crude was at $79.77 a barrel, down $4.90 or 5.79 percent.

The revised petroleum pricing mechanism issued by the Federal Government has led to the reduction in petrol prices from Rs336.03 to Rs331.95 per liter, while high-speed diesel prices have been reduced from Rs392.38 to Rs389.93 per liter.

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