ISLAMABAD: Prices of petroleum products is likely to be decreased upto Rs. 4 per litre, citing source ARY News reports on Monday.
According to reports, Oil and Gas Regulatory Authority (OGRA) has recommended cut in petroleum prices from April 1st to provide benefit of the depreciation of dollar to the consumers.
Sources reported that the price of petroleum will be slashed by Re. 1.05 per litre while diesel prices will be decreased by 95 paisas per litre and will be sold at 115.80 per litre.
The kerosene price will affect most with a cut of Rs. 4.50 per litre. The rate of High Octane fuel is likely to be reduced by Rs. 3.45 per litre.
The recent depreciation of dollar by Rs. 7.22 has resulted in the decrease of prices of petroleum products. OGRA is expected to send its summary about the prices to the Ministry of Petroleum by the end of this week.
The new prices are likely to be announced on March 31st.