The petroleum products may become cheaper by up to Rs12 per litre from December 16.
According to details, the oil industry has completed its working paper on proposed reductions in petroleum prices and has sent its recommendations to Ogra. Sources divulged that a cut of Rs0.36 per litre in the petrol price has been proposed. The working paper includes a recommendation to reduce high-speed diesel by Rs11.95 per litre.
The oil industry has forwarded to Ogra proposals to lower kerosene by Rs11.70 and light diesel by Rs10 per litre. The prime minister will grant final approval on the prices.
