A price cut of Rs 7 to Rs 10 per litre for petroleum products has been recommended by the Oil and Gas Regulatory Authority (OGRA).
Regarding the drop in petroleum product prices, the OGRA provided a report to the federal government. Ogra has suggested lowering the cost of gasoline by Rs 7 to Rs 10 per litre and the cost of diesel by Rs 8 per liter.
According to sources, Ishaq Dar, the finance minister, would discuss OGRA recommendations with Shehbaz Sharif, the prime minister. The final decision on petroleum product pricing will be made on Monday, and after midnight on May 15 the new rates for the following 15 days will go into effect.
It should be mentioned that the price of crude oil on the Brent oil market reached a high of $77.44 a barrel in the previous 14 days.