The petroleum products prices are likely to be scaled down by Rs 15 per liter due to reduction in the prices of oil in international market.
The finance ministry will decide about it today (Thursday) following the approval by the Prime Minister.
OGRA has worked out working paper regarding the prices for next 15 days.
Reduction in the prices of oil has been witnessed in international market during the last 15 days.
The Brent crude oil prices witnessed a dip in the last 15 days as it hovers around $76 per barrel in the international market.
Government purchased oil from international market 76 dollars per barrel.
OGRA has worked out two proposals regarding petroleum products. Relief can be given to the people in proportion to international market. The price of petrol can be reduced by Rs 12 per liter and diesel price can be curtailed by Rs 10.
Proposal has been given for reduction in the price of light diesel by Rs 15 per liter and kerosene oil by Rs 13 per liter.
Source further said the prices can be kept maintained by enhancing the ratio of the GST. GST ratio on petrol and diesel is zero. Petroleum levy has been increased to the last extent of Rs 50 per liter.
