ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Saturday slashed the prices of petrol by Rs 5.2 per litre to Rs 84.49 while diesel was reduced by Rs 2.48 to Rs 97.21 and HOBC by Rs 6.44 to Rs 106.88 in a second major reduction in the last one month.

The rate of light diesel has been slashed by Rs 2.86 to Rs 83.71 and kerosene oil Rs 2.54 to Rs 86.25 effective from July 1.

According to the OGRA notification, the price of Compressed Natural Gas (CNG) has also been decreased. In Region-1 that covers Potohar, Khyber Pakhtunkhwa and Balochistan, the rate of CNG has been decreased by Rs 4.59 per kilogram to Rs77.36.

In Punjab and Sindh that forms Region-2, the rate of CNG declines by Rs 4.20 per kg to Rs 70.63.

OGRA also announced decrease up to 51.77 percent in gas tariff for domestic consumers. The tariff has been raised for the industrial and power sector with the exemption of CNG sector for which gas has been made cheaper.

While the fertilizer sector will continue to receive gas at the existing rate.