Federal Finance Ministry has turned down the summary of OGRA regarding the reduction in petroleum goods’ prices.

OGRA had suggested the reduction in prices ranging from Rs. 7 to Rs. 17.

According to media reports government has reduced the reduced of Petrol to Rs. 5, High Octane Rs. 5, Kerosene Oil Rs. 5 and Light Diesel Rs. 5. “The new prices will be applied from February 1,” Finance Ministry told the media.

The petroleum goods prices are at a 22-year low in the international market at $28 per barrel. Meanwhile, Pakistan government has not passed on the relief to masses by rejecting the proposed prices by Oil and Gas Regulating Authority (OGRA).