A marginal cut in the price of petroleum products and kerosene oil has been announced by the Oil and Gas Regulatory Authority for February following a 15 percent decline in the international crude oil price.

The petrol and kerosene oil prices that decrease by 6 paisa and 66 paisa per litre, respectively, according to the levels recommended in a summary sent by Ogra to the federal government.

Therefore, the price of petrol in Pakistan is predicted to go down by 0.1 percent compared to the foreign decrease of 15 percent.

It has also suggested that the high-speed diesel price be raised by Rs2.47 per litre, and light diesel by Rs1.10 per litre.

The new pricing of petroleum products will take effect from 1 February following approval by the Ministry of Finance.