ISLAMABAD - In the backdrop of falling world crude prices, the prices of petrol and diesel are likely to be slashed from July. It is likely that POL prices will change at the start of next month (July) as two petroleum products prices will go up and three products prices will be decreased slightly, sources said. Petrol price is likely to be reduced by Rs 1 50 and diesel by Rs 1.25 per litre, while kerosene, light diesel and high-octane prices might go up by Rs 1-1.50 per litre. Similarly, price of light diesel is likely to be increased by Rs 1.43 per litre and kerosene oil by 56 paisa per litre, sources privy to the development shared with this scribe on Friday. It is learnt that the crude prices in the international market during the last four months fell down by 19 percent. New York crude price was seen trading at $91.63 per barrel, while four months ago it was hovering over $113 per barrel. Besides, the sales tax cut from 17 to 16 percent effective July 1 would also help pave the way for reduction in the prices of petrol; and diesel. Owing to technical fault in Attock Oil Refinery, this month Pakistan State Oil imported refined oil from the international market, sources said, adding that petrol costs Rs 5 per litre more than Pakistan in the international market and if refined petrol was not being imported from the international market then reduction in petrol price would have been Rs 2.50 per litre. In total, the expected reduction would serves as peanut to the nation, sources opined. When contacted experts, they were of the view that even though it is not always worthwhile for countrys economy like ours whenever the oil prices in the international market go up, our governments jack up the prices in accordance with these new rates. On the other hand, whenever the rates are slashed down in international market, prices are not lowered accordingly.