KARACHI: The government on Friday announced that it was reducing prices of petroleum products. An official notification of the change has also been issued by Ogra, DawnNews reported.

The decision to reduce prices was announced by Petroleum Minister Dr Asim Hussain in a joint press conference with Information Minister Qamar Zaman Kaira in Islamabad.

According to Dr Asim, the price of petrol would be reduced by Rs 10.46, bringing the new price to Rs 89.74 per litre.

Price of diesel would be lowered by Rs 6.08 to bring it to Rs 99.69 per litre.

Prices for CNG is to be reduced by Rs 4.87 and Rs 4.82 in regions one and two respectively.

HOBC would come down Rs 113.32 with a reduction of Rs 11.75 per litre.

Meanwhile, kerosene oil will now be cheaper by Rs 5.26 per litre, bringing its price to Rs 88.79, while price of light diesel will be reduced by Rs 5.02 per litre.

The new prices would come into effect from Saturday, June 16, announced the petroleum minister.

Moreover, the Oil and Gas Regulatory Authority (OGRA) has also issued an official notification of the reductions.