Oil prices likely to be slightly decreased

The govt has made a decision to slightly cut down prices of 3 main oil products – petrol, high speed diesel and kerosene – in an effort to defuse the solid public response to a huge rise in the prices made on Saturday. The Ministry of Finance is planning to declare a decision to the effect on Tuesday.

Petroleum Minister Dr Asim Hussain told that President Zardari had directed him “to move a summary to the finance ministry for decrease in oil prices”. He mentioned his ministry had moved the summary seeking a highest possible decrease in the prices of 3 important products and a decision was likely on Tuesday.