ISLAMABAD – The federal government is expected to announce reduction in prices of all petroleum products, potentially lowering them by up to Rs5 per litre effective June 1.
Reports in local media claimed that Oil and Gas Regulatory Authority (OGRA) proposed a reduction in petrol prices by Rs5.27 per litre.
The price of petrol will drop from Rs273.10 to Rs267.83. Additionally, it has been proposed to decrease the price of high-speed diesel by Rs4.13 per litre and light-speed diesel by Rs5 per litre.
Following approval, the price of one litre of diesel would reduce from Rs274.08 to Rs269.95, according to sources.
For Kerosene, OGRA suggested Rs2 reduction per litre from the start of next month.
The final decision on changing petroleum product prices rests with the Finance Ministry which will announce new prices on May 31.
