ISLAMABAD – Petroleum prices will decrease from June 1st according to a summary of Oil & Gas Regulatory Authority (OGRA), Finance Minister Ishaq Dar confirmed on Wednesday.

A reduction of Rs 1.20 per litre in the price of petrol and of Rs 1.60 per litre in the price of diesel has been approved by the finance ministry.

The new price of petrol (per litre) is Rs 72.80. while diesel has been reduced from Rs83 to Rs81.40.

There is no change in the price of kerosene oil and light diesel.

The new prices are expected to be implemented from June 1st.