The federal government is likely to reduce prices of various petroleum products by up to Rs 6.50 per liter from December after a decline in international prices in recent weeks.
According to sources, the Oil and Gas Regulatory Authority (OGRA) has prepared statistics after consulting oil marketing companies, however the summary in this regard would be prepared at the end of November.
Price of petrol is likely to be cut by Rs 5 a liter, high speed diesel by Rs 4.80, light diesel by Rs 5.50, kerosene oil by Rs 4.50 and high octane by Rs 6.50 per liter.
The Finance Ministry will give final approval to the summary on November 30 and the new prices will be implemented on December 1.