ISLAMABAD (Online): Petrol price is expected to be reduced by Rs. 1.67 from May 1 while diesel price may fall by Rs. 2.21 per liter from May 1, According to the sources, price of high speed diesel is expected to reduce by Rs. 2.21 while high octane price will be reduced by Rs. 7.20 per liter. Kerosene price is expected to increase by Rs. 1.60 while Rs. 2.35 increase is expected in the price of light diesel. Oil and Gas Regulatory Authority (OGRA) will send the summary of price changes to Ministry of Petroleum at the end of this month. The new prices will be implemented after approval from Petroleum Ministry.