Govt may slash petrol price by Rs11 per litre from Dec 16: sources

• Revised prices of petroleum products will stay in place for next fortnight, say sources. 
• Price of diesel may be slashed by Rs9 per litre: sources 
• Govt to finalise petroleum prices after determining tax rates, say sources. 

The government may slash the price of petrol by Rs11 per litre from December 16, sources confided to Geo News Tuesday. 

The price of diesel is expected to decrease by Rs9 per litre, revealed industry sources, adding that the government will finalise the prices of petroleum products after either raising or lowering the tax rates. 

The price of crude oil has seen a decline worldwide recently. 

The revised prices of petroleum products will come into effect from December 16. 

On Nov 30, the government had announced to maintain the prices of petroleum products for the December 1-15 period in line with Prime Minister Imran Khan's decision.

"The petrol price will remain unchanged at Rs145.82 per litre, and the price of diesel will remain Rs142.62 per litre as before," the statement had said.

"The prices of kerosene oil and light diesel will stay at Rs116.53 and Rs114.07 per litre, respectively."