ISLAMABAD (Staff Report) – The Oil and Gas Regulatory Authority (OGRA) on Monday prepared a summary seeking decrease in the prices of petroleum prices by the start of December.

The authority has requested the finance ministry cut petrol price by Rs3.0 per litre, high speed diesel by Rs4.10, light diesel by Rs2.50, kerosene oil by Rs3.50 and high octane by Rs4.50 per liter.

The summary now be forwarded to federal finance ministry and then to Prime Minister Nawaz Sharif for final approval.

Prices of petroleum products should at least go down by Rs5 following the the sudden 8 dollar per barrel decline in the price of crud oil in international market.