Petrol prices likely to increase

ISLAMABAD: A wave of tension has once again swept the global markets, where fears of an unprecedented increase in oil and petrol prices are being expressed.

According to recent reports, the price per barrel is likely to reach $180, which has worried investors and economists. According to the report, Saudi Arabian authorities fear that the ongoing tension with Iran may affect the supply of crude oil, which may result in a significant increase in prices globally.

The growing tension in the Middle East has become a major threat to the energy supply system. If there is a disruption in the supply chain, the prices of not only oil but also other energy sources may increase rapidly, which will have a direct impact on the global economy.

If this crisis continues until the end of April, the price of crude oil may exceed $180 per barrel. In this situation, there are fears of an increase in inflation, an increase in industrial costs and a negative impact on global trade.