On Wednesday, a proposal has been made to reduce the price of petroleum products a little bit. According to the sources, a proposal to lower the price of gasoline by Rs. 4.30 and high-speed diesel by Rs. 20 has been put together for the upcoming fortnightly. The sources said a proposal to reduce the price of kerosene by Rs13 per litre and light-speed diesel by Rs10 per litre is also prepared. A proposal to reduce the price of jet fuel by Rs 13 per litre has also been prepared, the sources said adding that a petroleum levy of Rs50 per litre of petrol and Rs45 on diesel is being charged. The sources said the reduction in the rates of petroleum products is expected after a decrease in prices of petroleum products in the world market as London Brent oil became cheaper by 6.57% in one month.