In a positive development for inflation-hit masses, the federal government could likely reduce the petrol price by up to Rs9 per litre from June 16, sources told Geo News on Thursday.
The price of diesel is expected to be reduced by Rs4 per litre, whereas kerosene oil rates are likely to be dropped by Rs2 per litre, the oil marketing companies (OMCs) sources added.
The final price will be calculated by the Oil and Gas Regulatory Authority (Ogra) and will be based on global petroleum rates on June 13 and 14.
