Petroleum prices likely to be reduced from October

The Oil and Gas Regulatory Authority (OGRA) has put forward a proposal on Tuesday to reduce the petroleum products’ prices up to Rs2 per liter from October.

According to the details, OGRA has recommended slashing Rs2 per liter in the price of petrol, diesel as the petroleum prices in the international market have decreased.

The fuel prices summary for the month of May has been sent to the Petroleum Ministry. After the Prime Minister gives approval to the new prices, it will be announced to the public.

If approved by the PM, the new prices will come into effect from October 1.

It is pertinent to mention here that the federal government on September 15 had announced to maintain the fuel prices for the next 15 days in the country.

According to the federal finance ministry’s handout, the new petroleum product prices would remain to enforce from 16 to 30 September in the country.