Prices of petroleum products are likely to come down from September 1. The Oil and Gas Regulatory Authority (OGRA) has sent a summary for the reduction in prices of petroleum products to the Petroleum Division.
Sources said that OGRA in its summary has proposed to reduce the price of petrol by Rs 3.5 per liter. Besides, it has been proposed to reduce the price of diesel by Rs 5 per liter, light diesel by Rs 2 per liter and kerosene by Rs 3 per liter.
The decision to change the prices of petroleum products will be taken by the Ministry of Finance in consultation with the Prime Minister. The new prices will be notified on August 31st.
The revision in the prices of petroleum products will be effective from 12 AM, August 31 for the next 15 days.
Earlier, in a notification issued on August 15, petrol and diesel prices were maintained but kerosene and light diesel prices were increased per liter.
At present, petrol is priced at Rs 119.80 per liter and high speed diesel at Rs 116.53 per liter.