The Oil and Gas Regulatory Authority (OGRA) has suggested lowering petroleum product prices, with the price of fuel dropping by Rs10 per litre.
According to Express News, fuel prices could be dropped by Rs7 to Rs10 per litre, while diesel prices could be decreased by Rs8 per litre.
The OGRA has submitted to the government a summary of the price reductions in petroleum products.
The finance minister will meet with the prime minister on the recommendations, and the final decision on petroleum product prices will be made on Monday.
The new petroleum product prices for the following 15 days will go into effect after midnight on May 15.
It should be mentioned that the price of crude oil in the Brent oil market has reached as high as $77.44 a barrel in the last 14 days.
The OGRA has submitted the government a summary of the price reductions in petroleum products.
