Will petrol prices decrease in Pakistan on April 10?

ISLAMABAD: The federal government has hinted that petrol prices in Pakistan may be reduced after a big fall in global oil prices.

In the international market, oil prices dropped sharply on Wednesday. Prices went below $100 per barrel after Donald Trump announced a possible two-week ceasefire between the US and Iran. This ceasefire depends on reopening the Strait of Hormuz safely.

Brent crude price fell by $14.84 (13.6%) to $94.43 per barrel. Meanwhile, West Texas Intermediate (WTI) dropped by $16.13 (14.3%) to $96.82 per barrel.

Earlier, Trump said the ceasefire decision came after talks with Shehbaz Sharif and Asim Munir.

After this development, the prime minister hinted at giving relief to people who are facing high inflation. He said the government may pass on the benefit of lower oil prices to the public.

A federal cabinet meeting will soon be held to discuss the Middle East situation and possible relief measures for Pakistanis.

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