The Oil and Gas Regulatory Authority has proposed a cut in the prices of petroleum products by as much as Rs7.67 per litre.
The regulatory authority recommended Rs4.59 per litre reduction in petrol price. It proposed Rs7.67 per litre cut in the price of high speed diesel.
Similarly, it recommended slashing the prices of kerosene oil and light diesel oil by Rs4.27 and Rs5.63 per litre, respectively.
However, the proposed cut in prices requires an approval from the Ministry of Finance. The new prices will be applicable from September 1.