Petroleum prices are expected to fall in the opening days of July as Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Ministry of Finance on Thursday.

The people will happily welcome the latest development next month. OGRA sent a summary of revised prices for the petroleum products to the Ministry of Finance. 

According to details, price of petrol could go down up to Rs 3.30/litre while 2.70/litre in the case of diesel. However, a hike has been recommended for the prices of kerosene oil and light diesel.

Sources told the price of kerosene oil will be increased by Rs 11 per litre. Light diesel will also become expensive as its recommended price in the summary adds Rs 7.11/litre in the existing amount.

Ministry of Finance will discuss the recommendations tomorrow and the revised prices will be enforced from July 1 onwards.