The Oil and Gas Regulatory Authority (Ogra) is likely to reduce the prices of different petroleum products by up to Rs 6, officials said on Saturday. According to sources in Ogra, the government may reduce the petrol price by Rs 1.5 per litre, kerosene oil by Rs 6 per litre, light speed diesel by Rs 5.5 per litre, and HOBC by Rs 1.77 per litre.
They said that the government is not going to reduce current price of high speed diesel (HSD), which is being sold at Rs 97.31 per litre. The new prices of petroleum products are likely to stand at: petrol Rs 86.91 per litre; HOBC Rs 98.15 per litre; HSD Rs 97.31 per litre; LDO Rs 82.8 per litre, and kerosene oil Rs 85.70 per litre. The average price of crude oil has been around 10 percent lower during this month as compared to the prevailing price on April 1, 2011.