Islamabad: (RightNow) Due to a significant drop in global crude oil prices, a major reduction in petroleum product prices is expected in Pakistan. OGRA (Oil and Gas Regulatory Authority) has announced that new prices will be determined today.

Global crude oil prices have decreased by up to 5% today. Consequently, a notable reduction in petroleum product prices in Pakistan is anticipated.

OGRA has stated that prices will be set in accordance with global market trends. Both the government and the public are eagerly awaiting this potential decrease.

The decline in global crude oil prices could impact Pakistan’s economy by reducing import costs.

It is noteworthy that last week, petroleum product prices saw a record increase of up to 60 rupees. Petrol became 24 rupees more expensive, and diesel rose by over 60 rupees.