The Oil and Gas Regulatory Authority (OGRA) is likely to propose Rs 4 reduction in prices of petroleum products.
According to sources, the move is being reviewed after decline in oil prices in the international market.
OGRA sources said that the petrol price is likely to reduce by Rs 3 per liter, high speed diesel Rs 4.10, light diesel Rs 2.50, kerosene oil Rs 3.50 while the price of high octane may go down by Rs 4.50 per liter from December 1.
The summary will be forwarded to the Petroleum Ministry on November 30 whereas the Finance Ministry will give its final approval on the recommendation.