The government is likely to reduce the prices of petroleum products by up to Rs7.67 per litre from September 1st, it was learnt on Friday.
Sources in the Oil and Gas Regulatory Authority (OGRA) informed Profit that the authority, in its working paper regarding oil prices in September, has proposed Rs7.67 per litre cut in the per litre price of high-speed diesel. The working paper has been forwarded to the ministries of petroleum and finance for further evaluations, they added.
As per the sources, the finance ministry would consult Prime Minister Imran Khan over the workings of OGRA before announcing the September oil prices.
“If the PM approves the workings of OGRA, then petrol will be available at Rs113.24 per litre in the open market, which is Rs4.59 less than what was charged in August,” they said.