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Petroleum prices likely to be reduced by Rs2 per litre

Consumption of petroleum products increased during first nine months of FY2020-21. Source: FILE/Online

ISLAMABAD: The prices of petroleum products are expected to be reduced by up to Rs2 per litre.

The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Petroleum Division seeking revision of fuel prices for the next 15 days starting April 16 (Friday).

According to the summary, the regulatory has recommended Rs2 reduction in per litre price of petrol and diesel. It further suggested that petroleum levy shall not be raised for the time being.

The new prices of petroleum products are likely to be announced following the approval of Prime Minister Imran Khan.

If the summary is approved, the new price of petrol will be Rs. 108.35/litre after the reduction while the price of diesel will be Rs. 111.08/litre.

On March 31, Finance Minister Hammad Azhar announced a Rs. 1.50 per litre cut in the price of petrol while a Rs. 3 per litre decrease in price of diesel.