Petroleum prices likely to be slashed drastically across Pakistan: Report

ISLAMABAD – The petroleum prices are likely to be decreased by Rs 10 perlitre from February 1.

According to reports, a summary to decrease the petrol prices by Rs 4 perlitre, diesel Rs 6 per litre and kerosene oil by Rs 10 per litre has beenprepared.

Media reports said that the Oil and Gas Regulatory Authority (OGRA) hasprepared the summary.

The summary will be sent to Finance and Petroleum Ministries within one ortwo days.

The decision to decrease the petroleum prices will be taken on January 30.

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The government had earlier announced a cut in price of petrol for the monthof January 2019 by Rs 4.86 per litre while that of High Speed Diesel by Rs4.26.

The price of Kerosene oil was reduced by Rs 0.52 and that of Light DieselOil (LDO) by Rs 2.16 per litre, a finance ministry statement said.