Oil and Gas Regulatory Authority (OGRA) has sent a summary to change the prices of petroleum products which will be approved by the Ministry of Finance.
The summary to adjust the prices of petroleum products was sent on Friday, according to which there will be a reduction in the rate of petrol by Rs. 3.67 per litre. OGRA has also recommended new prices for kerosene oil, high speed diesel and light speed diesel.
The price of high speed diesel will increase by Rs. 5.7/litre. On the other hand, sources told OGRA has recommended to raise the price of kerosene oil by almost Rs. 13/litre and that of light speed diesel by Rs. 10/litre.
Ministry of Finance is expected to approve the summary of recommendations in a few days. The prices of petroleum products will be updated from next month.
The ministry had earlier reduced petroleum prices in July with Rs. 1.5/litre cut in petrol.
