The Oil and Gas Regulatory Authority (Ogra) has issued a notification to cut the oil prices as Supreme court ordered to decrease the oil price immediately against the earlier notification issued on midnight June 30. According to the new notification, Ogra has reduced the price of petrol to Rs 50.53 per litre from Rs 62.13. The HOBC price has been cut to Rs 62.54 from Rs 78.78 per litre, kerosene oil to Rs 52.39 from Rs 59.35 per litre and light diesel to Rs 51.46 from Rs 54.94 per litre. The spokesman for the Authority said that the prices of motor spirit, HOBC, kerosene oil and Light Diesel Oil (LDO) have been decreased by Rs 11.60, Rs 16.24, Rs 6.96 and Rs 3.48 per litre, respectively, in accordance with the Supreme Court order.
