Sources told The News that the Oil and Gas Regulatory Authority (Ogra) workings show room for a cut of Rs3.40 per litre in petrol prices and Rs2.5 per litre for diesel.
The federal government had slashed petrol price by R1.57 and diesel by 84 paisas for the first fortnight of the current month. Kerosene and Light Diesel Oil (LDO) rates remained unchanged.
At the moment, petrol is priced at Rs102.40 per litre, diesel Rs103.22 per litre, Kerosene Rs65.29 per litre and LDO at Rs62.86 per litre.
The regulator will send the summary to the Finance Division and the government is likely to make the decision on November 15.