ISLAMABAD: The government is likely to reduce the price of petrol by more than Rs2 per litre but keep the rates of other petroleum products almost unchanged for November, according to sources.

The Oil and Gas Regulatory Authority (Ogra) sent a summary to the petroleum ministry on Wednesday under which the price of petrol was proposed to be reduced by Rs2.48 a litre — from Rs113.25 to Rs110.77. The authorities had raised petrol price by Rs4.12 per litre on Oct 1.

Sources said the Ogra summary was based on prices in the international market during the last 25 days.

The summary proposed that the prices of High Speed Diesel (HSD), Light Diesel Oil (LDO) and kerosene oil be raised slightly.

The price of HSD, the most widely consumed petroleum product in the country, was proposed to be increased by 18 paisa per litre, bringing it to Rs117.13 from Rs116.95 per litre. This fuel’s price was raised by Rs4.69 per litre for October.

The summary proposed an increase of 64 paisa a litre in the price of LDO, which is used to run tubewells and pumps in the industrial sector. The fuel’s proposed price is Rs101.88 per litre as compared to Rs101.24 previously.

The price of kerosene, which is used for cooking in remote areas, may go up by 57 paisa per litre, taking it to Rs108.7 from Rs108.13 a litre. The price of high octane blending component (HOBC) may be reduced by Rs2.67 per litre, to Rs141.23 from the existing rate of Rs143.9.

The prices of aviation fuels are largely proposed to remain unchanged, according to sources.

The authorities will notify the new prices after approval by the prime minister on Thursday (today).