Oil and Gas Regulatory Authority (OGRA) has sent a summary regarding the reduction in the prices of petroleum products to the government.
According to sources, the price of petrol can be reduced from Rs5 to Rs7 and the price of diesel is proposed to be reduced by Rs8 per liter. But sources have also said that the government might decide to maintain the prices of petrol and diesel.
In the Brent oil market, the price of crude oil was up to $77.72 per barrel.
The Finance Minister will consult the Prime Minister on OGRA recommendations, and the final decision regarding the prices of petroleum products will be taken tonight.
For the next 15 days, the new prices of petroleum products will be applicable after 12 o’clock in the night.