ISLAMABAD: The government is likely to pass on further benefit of reduction in the prices of petroleum products to consumers during the month of June. The Oil & Gas Regulatory Authority (Ogra) has sent a summary to the Ministry of Finance for revision in oil prices. It recommended up to Rs7 per litre drop in the price of petrol and Rs5 in the price of high speed diesel (HSD).
According to the summary, the price of kerosene is expected to come down by Rs11.88 per litre while that of light speed diesel (LSD) by Rs9.37 per litre. After the reduction, per litre price of petrol will likely be Rs74.52, HDL Rs80.10, LDL Rs38.14 and kerosene Rs35.56
On April 30, the federal government had made a major reduction in petroleum productsâ€™ prices for May. The petrol price was reduced up to Rs15 as the new rate was fixed at Rs81.58 from May 1. Moreover, Rs27.15 was reduced on high-speed diesel and the new price was set at Rs80.10. The new rate of Kerosine oil was fixed at Rs47.44 after Rs30 cut and Rs15 reduced on light diesel to Rs47.51.