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Public hopes to receive relief as Global oil prices hit 12-year low

Public hopes to receive relief as Global oil prices hit 12-year low
January 7, 2016 03:26 pm

ISLAMABAD (92 News) – Despite historic downfall in petroleum prices as oil slid below $33 a barrel on Thursday to levels not seen in more than a decade, the POL prices are unchanged in Pakistan.

According to the members of the parliament, the masses should not hope for a relief in oil prices as the government is trying to cover up fiscal deficit.

The price of oil has shed around 70 percent since the current downturn began in June 2014, causing pain to oil companies and governments that rely heavily on crude revenues.

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