The Oil and Gas Regulatory Authority (OGRA) has sent a summary of the reduction in prices of petroleum products to the Petroleum Division from June 1.
According to the summary, OGRA has proposed a reduction in the price of petrol by Rs 7.6 paise to Rs 74.52 paise from Rs 81.58 paise.
OGRA has recommended a reduction in the price of kerosene by Rs11.88 paise and light diesel by Rs9.37 paise. OGRA has also proposed an increase of 5 paise in the price of high-speed diesel.
Following the approval of Prime Minister Imran Khan, the Finance Ministry will announce a reduction in prices on May 31. Earlier, the government had announced a reduction of up to Rs 30 in the prices of petroleum products for the month of May.