Petroleum prices likely to cut from June 1

Islamabad: There is possibility of reduction in the prices of petroleum products in the country from June 1, reportedly.

According to media reports, the estimates of oil industry stated that there is a possibility of reduction in the price of petrol by Rs5 per liter to settle at Rs265 from June 1.

It is also reported that diesel price is also likely to reduce by Rs5 per liter. It is considered also to keep the prices at the current level i.e. Rs270, due to the increasing value of dollar.