Famous Journalist Sami Ibrahim says that government reduced price of Rs 15 per litre of petrol. But it should have been further reduced. He added that the price of oil is $20 per barrel. So according to this, the price of petrol in Pakistan is Rs 80 per liter.
The government said that when the price of oil goes down globally, we will also cut further, but by which oil prices are declining, it now seems that oil prices will go to zero, but oil will be negative because when oil goes out and it goes to refinery, there is a limit to storing oil. Storage capacity is ending in the World's oil refineries. Ten days later, oil refineries will not be able to store oil. Which means that refineries did not buy oil. When there is no buyer, the price of oil will go negative. It has not happened in the World till today.
Sami ibrahim added that if the government works with Pakistan's honesty, the price of oil in Pakistan will be 60 rupees per liter, even if there is no dollar price. We have not seen so much reduction in oil prices till today. While the second Nab Russia has shown willingness to cooperate with Saudi Arabia and the United States to reduce crude oil production. Russian President Vladimir Putin has said that Russia is ready to cooperate with Saudi Arabia and America in reducing crude oil production. He said that Russia has already given its consent to agreements under the Opec plus group framework. He added that in order to reduce oil market balance and production, I believe in joint efforts.
From all above news it is must that the price of Petrol and other Crude products will decrease in future.
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