ISLAMABAD , APRIL 15  : The government is likely to slash prices of petroleum products by up to Rs2.

The Oil and Gas Regulatory Authority (Ogra) has forwarded a summary to the Petroleum Division seeking revision of fuel prices for the next fifteen days starting April 16 (Friday).

According to the summary, the regulatory has recommended a Rs2 cut in per litre price of petrol and diesel.

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The Ogra further suggested that petroleum levy be not raised for the time being. The new prices of petroleum products are likely to be announced this evening following approval of Prime Minister Imran Khan.

If the summary is approved, the new price of petrol will be Rs108.35/litre after the cut while that of diesel Rs111.08/litre.

On March 31, Finance Minister Hammad Azhar announced a Rs1.50 per litre cut in the price of petrol while a Rs3 per litre decrease in that of diesel.