Govt to Slightly Reduce Petrol and Diesel Prices

Petroleum prices are expected to come down by as much as Rs. 3 per litre for the next fortnight, sources told ProPakistani. According to initial calculations, the price of high-speed diesel (HSD) could be reduced by Rs. 3.13 per litre, while petrol may see a smaller cut of up to 61 paisas per litre or remain the same. The Oil and Gas Regulatory Authority (OGRA) will forward its pricing summary to the government on August 31, based on international market trends and industry data. Oil marketing companies have already submitted their work to OGRA. The Ministry of Finance, after consulting with the prime minister, will take the final decision on the new prices. Previously, the government reduced the price of high-speed diesel (HSD) by Rs. 12.84 per litre, bringing it down to Rs. 272.99. However, the price of petrol was left unchanged at Rs. 264.61 per litre.