Prices of petroleum products likely to go down by up to Rs2

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Saturday recommended up to Rs2 decrease in prices of petroleum products for the month of November.

The authority forwarded a summary in this regard to the Ministry of Finance for approval.

According to the details disclosed by the summary, the OGRA has recommended a Rs1.50 cut in the per litre price of petrol and Rs2 in the price of high-speed diesel (HSD). The finance ministry will announce new fuel prices for November after Prime Minister Imran Khan’s approval.

Authorities said the government may keep the prices of petroleum products unchanged by increasing petroleum levy.

On September 30, the government had cut the price of high-speed diesel by Rs2.40 per litre and kept that of petrol and other petroleum products unchanged for a fortnight with effect from October 1.

Later on October 15, the government decided to keep fuel prices unchanged for the rest of the month.