ISLAMABAD: A significant reduction in the prices of petroleum products is expected from December 1.
Petroleum product prices may be reduced by up to Rs 6.35 per litre. According to reports, the price of petrol is likely to decrease by Rs 3.75 per litre, while high-speed diesel may become cheaper by Rs 6.10 per litre.
Similarly, the price of kerosene oil is expected to drop by 73 paisas, and light diesel oil by Rs 6.35 per litre.
The oil industry has completed its working on the proposed price adjustments and sent it to OGRA. Based on these recommendations, OGRA is preparing a summary for price revisions, which will be forwarded to the Ministry of Finance tomorrow.
The Ministry of Finance will announce the new petroleum product prices, effective from December 1, on November 30. These prices will remain in force for the next 15 days.
According to reports, the ministry will also consult the prime minister before making the announcement.
