Reduction in prices of petroleum products seems to be on cards as there has been a massive fall in crude oil prices across the world and it is likely to benefit people in Pakistan.
The Oil and Gas Regulatory Authority (OGRA) has recommended a reduction in petrol prices by Rs 20.68 per liter, high-speed diesel by Rs 33.94 per liter.
The highest cut of Rs44.7 is proposed for the prices of kerosene oil.
The oil and gas regulatory body has forwarded the summary to the Ministry of Petroleum and Finance Ministry for approval.
After approval, the new prices will come into effect from May 1.
On March 25, the federal government reduced the petrol price by Rs 15 per litre and announced that it would maintain that level for three months or even reduce it further.