Petrol prices in Pakistan

 Petrol prices in Pakistan after Corona Virus

Omicron variant of Corona virus

   On 26 November 2021, WHO designed the variant named Onmicron, by the advice of the team of the (TAGVE) Technical Advisory Group on Virus Evolution, this step was taken by the reports presented by the TAGVE which search that the behavour of the virus like how the virus can easily spread, how much illness it can cause.

Research in South Africa and other countries on the globe have studied to easily understand the other aspect of Omicron. The information about the Omicron is not clearly announced yet . The Omicron is not even studied completely, it is not found that Omicron is much transmissible or not which means it can be spread from humans to humans compared to other variant which is including the Alpha and Delta corona virus, the positive cases of the corona virus has increase in the areas like South Africa which were more affected by this variant but WHO is studing it is the Omicron or any other factors.

The severity of the Omicron is not declared clearly, is that the Omicron causes more damage than the other variants which are including the Alpha and the Delta corona virus, studied revealed that the number of patient in the South Africa has increased in hospitals due to the spread of the variant, the symptoms of the Omicron virus are not studied in detail and not announced. The early reports shows that the Omicron is mostly spread in Universities students and the people with the mild disease, all the variants of Corona virus including the Alpha and the Delta virus which is spread all around the world can cause severe illness and even death.

Vaccine

 World Health Organization WHO is still working with the partner to totally understand the piotential of the Omicron how this variant is dangerous for over living. The current vaccine is proved successful against the variant such as Delta which is effective against the illness and the death.

Petrol price in Pakistan

  In Islamabad the Oil and Gas Regulatory Authority (OGRA) published that the Prime Minister of Pakistan has not accepted to decrease the price of petrol in Pakistan. Instead the Prime minister has announced to increase the price of petrol in Pakistan. As compared to other world the price of Petrol has decrease due to Omicron variant of the Corona Virus. According to the order of the Prime minister the petrol prices will remain unchanged from Rs 145.26 per liter as before. The prices of other products like Kerosene oil and light diesel are also expected to remain at Rs116.53 and Rs114.07 as per liter.

At the start of November the Government has decided to increase the petrol prices according to the other of the Prime Minister of Pakistan. The price increase Rs 8.03 per liter. At the present time in the world the price of petrol increases around $85 as barrel according to the Global Benchmark Brent and it is the highest from the past from October 2018.

It also disturb the entire energy chain of the world and increases the demand of the energy spots in couple of months and supply bottlenecks. In the current time the ministry announced that the Government bear the maximum burden and provided the relief to the petrol consumers by keeping the petrol taxes to the minimum for the people. There fore the prices of Petrol has been approved by OGRA.

Effect on Global Prices

 The countries around the globe that are the main exporter of the oil in the world are now facing the unexpected change in the oil prices , Covid-19 pandemic has began a contraction at global economic and oil market has collapsed with the benchmark price of United States crude oil. According to the price of per barrel of petrol an USD 30 per barrel the International Energy Agency projects and predict that the oil and gas prices will decrease between 50% to 85% in 2020 as compared to 2019, and the losses will be greater depending on future market developments. The present situation is happened in the wider level. The oil price has been gradually increasing since 1970. The demand also effect the price of petrol in the market. The increase in demand in the developing countries across the world the USA has t built the new production factories has contributed to fulfill the need of the world. Then the pandemic Covid-19 has taken everyone surprise, which has decrease the oil prices to a great extent. The condition was so bad that the benchmark of US crude oil got a great loss and their profit is changed into negative in the first time in history in the last April. Although the prices may bounce back but they can never be the same as of the 2008. Which is aided by the great technological advanced that decrease the amount of the renewable energy source growing toward.