ISLAMABAD: In line with reassessment of petrol stocks and deliberation of the pricing formula, Pakistan State Oil is expected to decrease the prices of Petrol and, by parity, Compressed Natural Gas.

The new prices will be implemented from September 10, 2012, onwards where the price of petrol would be reduced by Rs4.65 and CNG by Rs4.

On the other hand, prices of High-Speed Diesel and Light Diesel Oil are to be increased by Rs3.39 and Rs1.40 respectively. High Octane is to be higher by Rs3.27 while Kerosene will be hiked by Rs1.85.

Prices of petroleum products were raised significantly on September 1, 2012, where Petrol and CNG prices were increased by Rs8.18 and Rs7.11 respectively.

By implementing the said prices, the previous increases in both the fuels would be reduced by over 56 per cent each.

At the time of the previous price hike, Ogra had requested the government to provide relief to consumers by sharing half the burden, stating high energy taxes.