ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has prepared a summary for the reduction in the petrol and diesel prices for the next fortnight from December 16 onwards. Ogra proposed a Rs 11.85 per litre cut in petrol per litre.
According to sources, the Oil and Gas Regulatory Authority is likely to reduce the petrol prices from 16 December for the next fortnight, as initial preparation is finalised and a summary will be submitted in this regard to the petroleum division for approval.
Sources indicate that a reduction of Rs 11.85 per litre in petrol prices is anticipated, bringing the new rate to Rs 263.90 per litre. Additionally, the prices of diesel and light diesel are also expected to drop from December 16.
Sources said that after a cut in the diesel prices new price will be Rs 270 per litre. It is expected that after a decrease, the light diesel per litre is likely to sell at Rs 153 per litre.
The Ogra will submit the proposal for a petrol price cut to the Petroleum Division for approval on December 15, and new rates will be announced on midnight of December 15.
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