ISLAMABAD: Oil and Gas Regulation Authority (Ogra) on Friday issued notification for the reduction of petroleum prices by 50 per cent.

The government had increased prices by almost 10 per cent on Tuesday, sparking anger among coalition partners of the already fragile administration in Islamabad.

As per notification, the new prices of POL products would be applicable from March 5.

The new prices of petrol after reduction of Rs3.65 would be Rs76.54 per litre instead of Rs80.19.

High speed diesel will now sell at Rs82.21 per litre instead of Rs86.09 after slashing of Rs3.88.

Similarly, light diesel will be available in the open market at Rs69.97 per litre in place of old price Rs73.21.

The new price of kerosene oil will be Rs74.45 instead of Rs77.95 per litre.