Reduction in oil prices in the global market, Government coalition party has made a big demand
LAHORE: Government coalition party Muslim League-Q demanded a reduction in oil prices and said it should reduce the inconvenience of the people and give full relief to petroleum products.
According to details, PML-Q leader Chaudhry Moonis Elahi demanded a reduction in oil prices on social networking site Twitter, saying that global oil prices have reduced by 30 percent, the government should also reduce the prices of oil for the people affected by inflation.
Moonis Elahi said petrol, diesel prices should not be reduced substantially, should be reduced significantly, reduce public distress and provide full relief to petroleum products.
Considering that crude oil prices recorded the biggest decline in history in one day, crude oil prices fell by more than 29% percent, American crude oil fell $ 32 dollars 74 cents a barrel, while Burnett crude oil fell $ 36 dollars 39 cents a barrel.
The decline in the price of crude oil is not due to an agreement between OPEC and Russia about production, while Saudi Arabia has reduced its export prices for Asian, European and American buyers by ten percent.
After this Saudi Arabia action, there is a threat of a trade war between Saudi Arab and Russia on prices.