Petrol, diesel prices likely to go down from Dec 16

ISLAMABAD: The federal government may slash the petroleum prices by Rs10 per litre from December 16, ARY News reported citing sources.

According to sources, the Oil and Gas Regulatory Authority (OGRA) on Tuesday put forth a proposal to reduce prices of petroleum products up to Rs10 per litre.

OGRA has recommended Rs11per litre cut in the price of petrol, diesel Rs9 per litre, said sources, adding that the government will finalise the prices of petroleum products after either raising or lowering the levy.

The price of crude oil has seen a decline worldwide recently.

It is pertinent to mention here that Prime Minister Imran Khan on December 1 had rejected the OGRA summary and maintained the petrol prices for the next 15 days.

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According to a notification issued from the finance ministry on the directive of PM Imran Khan, the petrol price remained unchanged at Rs145.82 per litre, diesel at Rs 142.62 per litre and Kerosene oil at Rs116.53 per litre.

The price of light diesel also remained unchanged at Rs114.07 per litre.