Massive Petrol Price Cut Announced From June 1

The Oil and Gas Regulatory Authority (OGRA) is considering a massive reduction in petroleum prices, proposing a decrease of Rs5 per litre.

This expected reduction will apply to both petrol and diesel, making them cheaper for consumers across the country.

The proposed price cuts aim to provide relief to consumers facing rising fuel costs. If approved, petrol prices would drop by Rs5 per litre, while diesel prices could decrease by Rs4 per litre.

OGRA plans to submit the summary of proposed price adjustments to the Petroleum Division on May 31. The final decision and official notification will come from the Ministry of Finance and the prime minister.

If approved, the new prices will take effect on June 1 for the first two weeks of the month.

On May 1, the government announced a significant reduction in petroleum prices. According to a notification, the prime minister approved a decrease of Rs5.45 per litre for petrol and Rs8.42 per litre for diesel.

The Finance Ministry stated that the new prices are Rs288.49 per litre for petrol and Rs281.96 per litre for high-speed diesel (HSD).