ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Saturday announced a reduction in the price of petroleum, oil and lubricant (POL) products up to Rs 6.44 per litre in the local market, SAMAA reports.

The new prices will be effective from July 1st, according to OGRA notification.

The price of petrol was slashed by Rs5.02; that of High Octane by Rs6.44; High Speed Diesel by Rs2.48 and Light Diesel by 2.86.
 
The new price of petrol will be Rs 84.49 per litre; that of HOBC Rs 106.88 per litre, HSD Rs 97.21 and LDO Rs 83.71 per litre.

The rate of kerosene oil is to be slashed by Rs2.54 per litre and a notification is yet to be issued by the OGRA following approval of the petroleum ministry.

Sources said the oil prices were cut keeping in view the visible decline in price of crude oil in the international market. – SAMAA