Govt likely to slash the petroleum prices by up to Rs15 per litre from tomorrow

ISLAMABAD, Dec 14, (SABAH): The government is likely to slash the petroleum prices by up to Rs15 per litre for the second fortnight of December in the wake of fluctuation in the international market.

Sources of a private TV channel said the Oil and Gas Regulator Authority (OGRA) had prepared a working paper about the new petroleum prices and would send a summary to the Ministry of Finance.

The Brent crude oil prices witnessed a dip in the last 15 days as it hovers around $76 per barrel in the international market.

Sources further said the OGRA would recommend Rs12 per litre cut in the petrol price and Rs10 in the diesel price. It would also suggest the government to decrease the price of light diesel oil by Rs15 and kerosene oil by Rs13 per litre.

A final decision about the prices will be taken by the finance ministry after consultation with Prime Minister Mian Muhammad Shehbaz Sharif.