There is good news for the public as petroleum prices are expected to drop significantly from December 1. According to initial estimates, the price of petrol may be reduced by Rs 3.75 per litre, while high-speed diesel is likely to become cheaper by Rs 6.10 per litre.
Similarly, the price of kerosene oil is expected to decrease by 73 paisa, and light diesel oil may see a reduction of Rs 6.35 per litre.
Sources say that the oil industry has completed its working on the proposed price adjustments and submitted it to OGRA. Based on these calculations, OGRA is preparing a summary, which will be sent to the Ministry of Finance tomorrow.
The Ministry of Finance will announce the new petroleum prices on November 30 after consulting with the Prime Minister, and the revised prices will remain in effect for the next 15 days starting December 1.
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