Canada Global(Web News) The caretaker government has reduced the price of petrol by 40 rupees per liter while giving relief to the people. The trend of rising crude oil prices has been seen in the global market for a few days. According to experts, the reason for the decline in petrol prices is the depreciation of the dollar. If the dollar continues to fall, there will be no increase in petrol prices on November 1.
Crude oil prices continue to rise in the global market. On September 27, the price of crude oil was $95 per barrel, which fell to $82 per barrel on October 6, but now the price of crude oil is $88 per barrel.
According to economists, oil prices are changed every 15 days to determine the price according to the increase or decrease in crude oil prices in the global market. The recent drop in price is not due to crude oil prices in the global market, it is due to the appreciation of the rupee.
Due to the war between Palestine and Israel, the price of crude oil will continue to increase, but the rupee is stabilizing in Pakistan, the effects of this increase will be controlled, if the value of the rupee in the next few days. If the increase continues, the price of petrol will not be increased, but if the value of the dollar increases, the price of petrol will be increased from November 1.
In Pakistan, the price of petrol has decreased by 48 rupees in the last 15 days. . On the other hand, the price of crude oil in the global market decreased from 95 dollars per barrel to 84 dollars per barrel and now it has returned to 90 dollars.
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Whether the prices of petroleum products will increase from November 1 or not, it has to be seen when and at what rate Pakistan bought crude oil.
Economists say that the price of petrol in Pakistan fluctuates with the price of crude oil in the world market. If it increases further, petrol prices will have to increase in Pakistan as well. The war between Israel and Palestine has created uncertainty
The depreciation of the dollar is also reducing the price of petrol, but the fall in the value of the dollar is a result of a crackdown on hoarders and smuggling, if smugglers find other means. Then the dollar rate, which has temporarily gone down, will go up. Afghan transit trade is also completely closed, it will also have to be opened.
It should also be noted that out of the taxes and duties that are imposed, many people resort to smuggling. All these things are still uncertain.
