Prices of petroleum are expected to be slashed by Rs 6 a litre from August 1. OGRA would be forwarding the summary of the reduction in the petroleum prices today.
According to sources, the pump-price of petroleum is expected to be reduced by Rs 4 per litre while that of High Octane is expected to be reduced by Rs 6.50 per litre. It is proposed to reduce the retail price of kerosene oil by Rs 2.60 per litre; light diesel by Rs 3.25 and high speed diesel by over Rs 3.
Prime minister will accord the final approval to the reduction in petroleum prices today.