Petrol and other petroleum products' prices in the international market have eased following the opening of the Strait of Hormuz.
According to details surfaced on Friday, the crude oil prices have recorded a sharp decline after the ceasefire, with US crude falling by $34.55 per barrel from $119 to $84.45, a drop of around 30 per cent.
Brent crude has also declined by $26.87, marking a reduction of up to 23 per cent.
Experts said that the fall in global prices may lead to lower petroleum rates in Pakistan, with the prospect of relief for consumers.
