The Oil and Gas Regulatory Authority (OGRA) on Saturday, recommended a reduction of up to Rs 2 in fuel prices.
As per the summary, OGRA has recommended fuel prices to be decreased by up to Rs 2 from November 1st.
The regulatory body has recommended petrol price to be reduced by Rs 0.5 per liter and Rs 2 for high-speed diesel.
Meanwhile, the prices might as well be maintained by increasing the petroleum levy, it added.
The summary has been forwarded to the government for approval by Prime Minister Imran Khan.
It is to be noted that Ministry of Finance is scheduled to announce petroleum prices on October 31st (today) for the month of November.
The petroleum prices will be applicable for 15 days, and will be reviewed again.
Prior to this, OGRA in its summary to the government, had sought Rs 2 per liter increase in petroleum prices. However, the government decided to keep fuel prices unchanged.