ISLAMABAD :  Prices of petroleum products are likely to go down up to Rs 4 per litre. According to reports, Oil and Gas Regulatory Authority (Ogra) has recommended cut in petroleum prices from April 1st to give benefit of the dollar’s depreciation to the consumers. Sources reported that the price of petroleum will be slashed by Rs 1.05 per litre while diesel prices will be decreased by 95 paisas per litre and will be sold at 115.80 per litre. The kerosene price will be cut the most – Rs 4.50 per litre.

 The rate of High Octane fuel is likely to be reduced by Rs 3.45 per litre. The recent depreciation of dollar by Rs 7.22 has resulted in the decrease of prices of petroleum products. Ogra is expected to send its summary about the prices to the Ministry of Petroleum by the end of this week. The new prices are likely to be announced on March 31st.