Petrol/diesel likely to go down further by Rs9.65, 7.15

ISLAMABAD: Another big cut is likely in the prices of petroleum products with effect from December 1, which is expected to go a long way in allowing relief to the inflation-hit consumers of the country.

According to a summary of Oil and Gas Regulatory Authority (OGRA), the price of petrol has been proposed to be slashed by Rs9.65 and that of diesel by Rs7.15 a litre from the beginning of the next month.

The proposal suggests cut in the price of kerosene oil by Rs5, light diesel by Rs4 and HOBC Rs10.20 per litre.

OGRA is expected to forward the above summary to the Ministry of Petroleum by tomorrow (Friday).

If approved, the new prices of petrol from December will be Rs84.54 and diesel Rs94.06 per litre, kerosene oil Rs83.52, light diesel Rs78.37 and HOBC Rs106.25.

The prices of petroleum products had witnessed a major decline for the month November.

The second big drop in POL prices is expected to pave way for reduction in prices of other goods and services, as transportation and fuel costs have direct or indirect impact on prices of all items.