It has been recently revealed in a report that the oil industry has planned to decrease the prices of gas. This means that there can be more oil production in the time to come, on a domestic basis. There shall be no extra taxes to be borne by the refineries and this is sure to help the price of oil to come down in the near future.
This shall help the commoner in the time to come too. The analysts are however of the view that this shall mean very little support for lowering down the rates of fuel in the short term.
"We are seeing a general rebound in commodity prices after yesterday's price decline - it is not just oil that is up, base metals are up as well as market sentiment stabilizes", said Carsten Fritsch, an energy analyst at Commerzbank in Frankfurt.
There is need for further research and development to be done in the matter so that everything can be considered well by the authorities before reaching a final decision on the matter. This shall help them in making the necessary changes in policies to make them flexible and worthy for the people as well as authorities in the near future.
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