A proposal has been prepared to make a little cut on petroleum products, reported 24News HD TV Channel on Wednesday.
According to the sources, a proposal of Rs4.30 reduction in petrol price and Rs20 in high-speed diesel has been prepared for the next fortnightly.
The sources said a proposal to reduce the price of kerosene by Rs13 per litre and light-speed diesel by Rs10 per litre is also prepared.
A proposal to reduce the price of jet fuel by Rs 13 per litre has also been prepared, the sources said adding that a petroleum levy of Rs50 per litre of petrol and Rs45 on diesel is being charged.
The sources said the reduction in the rates of petroleum products is being expected after a decrease in prices of petroleum products in the world market as London Brent oil became cheaper by 6.57% in one month.