Reduction in petroleum prices likely

ISLAMABAD: The government is likely to slash prices of petroleum products by Rs 5 with effect from November 1, ARY News reported.

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Sources in the Oil and Gas Regulatory Authority told that it is proposed to reduce petrol rates by Rs 3.95 and high octane blending component by Rs 5.

In a summary sent to the Ogra, decrease of Rs 2.70 in high speed diesel is proposed followed by Rs 3 reduction in light diesel.

Similarly, reduction of Rs 3 is also expected in the rates of kerosene oil. Sources told that continuous decline in petroleum products’ prices was being witnessed in the international market.

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