Islamabad: A major reduction in the prices of petroleum products is expected from mid-February, the industry has sent a working paper related to petroleum products to OGRA.
The reduction in prices will be in proportion to the prices of crude oil in the global market.
According to the working paper sent by the industry, the price of high-speed diesel is likely to be reduced by Rs 9.11 and the price of petrol per liter is likely to be reduced by Rs 2.50.
Similarly, kerosene oil may become cheaper by Rs 3.45 and light diesel by Rs 5.60.
OGRA will send the final working paper in proportion to the global market to the government on February 15, Prime Minister Shehbaz Sharif will give final approval regarding petroleum prices.
The Ministry of Finance will issue a price notification for the next 15 days.
