As Iran is an oil producing country and due to the past ban they weren’t allowed to reach the International Market in order to sell the Oil. But now, they have given the permission as the ban has been lifted off. As the supply of oil increase as a consequence of this decision, the oil prices have decreased to a level of 27$ and 67 cents per Barrel. This decrease in price has no effect on the Pakistani Retail price of petrol. The oil prices prevailing in Pakistan should be decreased accordingly.