The government on Thursday announced to slash prices of petroleum products in a bid to provide relief to oppressed masses.
The new prices will be effective from Friday.
Oil and Gas Regulatory Authority (OGRA) has issued a notification in this regard following approval of a summary by the Finance Ministry.
According to the notification, the petrol price has been reduced by Rs3.39 per litre; that of high speed diesel by Rs1.23, light diesel by Rs5.84, kerosene oil by Rs5.90 per litre.
CNG gas rates are also likely to be cut by Rs3 per kilogram.
The government will earn Rs3 billion on petrol in 15 days by levying a tax called Petroleum Development Levy (PDL).
The decision came as the federal government is going to announce its annual budget Friday.
