ISLAMABAD: The prices of petroleum products have been decreased by up to Rs5.61 according to a notification issued by the Ministry of Petroleum & Natural Resources on Monday, DawnNews reported.

According to the notification, the reduced prices of petrol and other fuels will be effective from April 1, 2014.

Following the notification, the new price of petrol after a reduction of Rs1.72 will be 108.31.

High-speed diesel will be sold at Rs113.85 after its price was reduced by Rs2.90.

Hi-octane, kerosene and light diesel will be sold for Rs136.57, Rs101.15 and Rs95.60 after their prices were reduced by Rs4.66, Rs5.61 and Rs5.16 respectively.

Meanwhile, the petroleum levy and sales tax on per litre of hi-octane, kerosene, high speed diesel and light diesel has been increased by Rs1.12, 49 paisa, Rs1.10 and 30 paisa respectively.

The government hopes to earn an additional Rs2 billion.