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Oil prices rapidly falling downwards hitting 40 dollars per barrel

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Oil prices in the international market has been rapidly falling down and currently reached at 40 dollars per barrel which is the lowest rate during the last six years.

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Experts said that the lowest oil prices in the international market are the result of surplus oil supply. In Pakistan too, petroleum products are expected to reduce from September 1.

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Government is thinking to reduce the price of petrol by Rs.6.15 per liter. Although, it is not that much relief in the petrol price as compared to the reduction in oil prices in the international market. It is expected that prices of diesel and kerosene oil can also decrease but don’t know whether public would be able to get benefit from this reduction in oil prices or not.

This change in price of petrol on regular monthly basis is only beneficial to a specific people of a group. It would be better if the petrol prices should be kept same for the whole year which would also put better effects on the country’s economic.

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