There is a possibility of a reduction in the prices of petroleum products before the implementation of the budget. Sources indicate that from June 16, the prices of petroleum products are likely to decrease by more than Rs. 9, with the price of kerosene possibly dropping by Rs. 2 and light diesel by Rs. 4.10.
Specifically, the price of petrol is expected to decrease by Rs. 9.28 per liter, while high-speed diesel may see a reduction of Rs. 4 per liter.
The Oil and Gas Regulatory Authority (OGRA) will send the summary of petroleum product prices to the government tomorrow. The Prime Minister, in consultation with the Ministry of Finance, will make the final decision on the price reductions.
The government will consider the revenue requirements before making the final decision.
