ISLAMABAD - The government has made partial reduction in oil prices - up to Rs 3 per litre - in line with decline in international prices effective from Friday (today). However, the price of High Octane Blending Component (HOBC) has been increased by Rs 2.21 per liter after its deregulation. The government has not reduced price of kerosene oil and rather imposed Petroleum Levy (PL) of Rs 1.59 per liter on it. According to OGRA officials, the government reduced price of petrol by Rs 3 per liter, Light Diesel Oil (LDO) Rs 1.13 per liter, JP-1 Rs 2.37 per liter, JP-8 Rs 0.84 per liter, JP-4 Rs 2.36 per liter and High Speed Diesel (HSD) Rs 2.01 per liter. After reduction, new prices of petroleum products would be as petrol at Rs 83.71 per liter, kerosene oil Rs 84.65 per liter, LDO Rs 81.39 per liter, HSD Rs 92.10 per liter, HOBC Rs 100.46 per liter, JP-1 Rs 81.54 per liter, JP-8 Rs 79.45 per liter and JP-4 Rs 73.16 per liter. OGRA spokesman Jawad Naseem while addressing a Press conference said that government had increased rate of PL on petrol to Rs 5.46 per liter and HSD Rs 2.15 per liter. The rate of General Sales Tax (GST) has dropped by 8 per cent on petrol, 6.3 per cent on LDO, 7.1 per cent on HSD and 5 per cent on kerosene oil due to reduction in oil prices. Jawad Naseem further said that Federal government has deregulated the prices of petroleum products of MS, HOBC, LDO, JP-1, JP-4 and JP-8 effective from June 1, 2011 and refineries and Oil Marketing Companies (OMCs) will fix and announce their ex-refinery price and ex-depot prices of these products on monthly basis. However, OGRA will only compute and notify ex-refinery price of HSD and kerosene oil including ex-depot prices of kerosene oil.