Rs 5 cut in petrol rates likely from Jan 1

ISLAMABAD: The government is likely to further slash prices of petroleum products with effect from January 1, 2015, ARY News reported Friday.

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According to sources, the petrol prices are expected to reduce by Rs 5.90, diesel Rs 11 and high octane Rs 17.

The Oil and Gas Regulatory Authority (OGRA) had recommended reduction in petroleum prices from January 1.

The summary in this regard was sent to the Ministry of Petroleum.

The government is reducing petrol rates in view of decrease in prices at international oil market.

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