The Chamber of Oil Marketing Companies (COMC) has forecasted a potential drop in fuel prices for the third time in 2025, driven by a decline in global crude oil costs.
Recent data from the Chamber reveals that crude oil prices fell from $75.49 per barrel to $71.94 per barrel, marking a 4.16% decrease.
This drop is attributed to concerns over the impact of escalating trade tensions under US President Donald Trump's administration, which have cast a bearish outlook on global economic growth and oil demand.
The Chamber also noted significant declines in refined product prices.
