With a plan to lower costs by Rs5 per litre, the Oil and Gas Regulatory Authority (OGRA) is contemplating a large price drop for petroleum products.
It is expected that both gasoline and diesel would be subject to this decrease, which might lower their price for customers nationwide.
Customers who are struggling with rising fuel expenses may get some respite from the price reduction. Diesel prices may drop by Rs4 per litre if the idea is adopted, but petrol costs are predicted to decrease by Rs5.
On May 31, OGRA is scheduled to transmit the Petroleum Division a summary of the suggested pricing modifications. Following that, a decision will be made and an official notification will be sent out by the Prime Minister and the Ministry of Finance.
The first two weeks of June would see the increased pricing go into effect. This was June 1.
The government declared a sharp drop in petroleum product prices on May 1. A announcement stated that the prime minister had approved a reduction in petrol prices of Rs5.45 per litre and a reduction in diesel prices of Rs8.42 per litre.
The Finance Ministry states that the new prices for gasoline and HSD are Rs288.49 and Rs281.96 per litre, respectively.
