The government might pass on a further cut in the petrol prices during the month of June, as per the reports of local media.
OGRA has forwarded a summary to the Finance Ministry for revision in the oil prices. It suggested up to Rs.7 per liter cut in the petrol prices and Rs.5 reduction in the high-speed diesel prices.
As per the summary, the price of kerosene is expected to decrease by Rs.11.88 per liter while that of the light-speed diesel to reduce by Rs.9.37 per liter.
Following the reduction, the price per liter of the petrol will likely become Rs.74.52, that of HDL Rs.80.10 and Rs.38.14 and Rs.35.56 of LDL and Kerosene respectively.
On the 30th of April, the federal government made a major cut in the prices of petroleum products for May. The petroleum product prices were decreased up to Rs.15 as the new rate was fixed at Rs.81.58 from the 1st of May.
Furthermore, Rs.27.15 was cut in the price of high-speed diesel and the new price had been fixed at Rs.80.10. The new rates of light-speed diesel and kerosene were Rs.47.51 and Rs.47.44 respectively.