ISLAMABAD - The Oil and Gas Regulatory Authority (OGRA) has announced new maximum ex-depot prices of petroleum products effective May 22, 2009. An Ogra Press release issued late Thursday night said that the prices of Motor Spirit and HOBC have been reduced by Rs. 1.45 per litre, and Rs. 1.80 per litre respectively. The prices of Kerosene Oil and Light Diesel Oil (LDO) have been kept unchanged at Rs. 51.87 per litre and Rs. 48.00 per litre respectively. The price of High Speed Diesel (HSD) has also been reduced by Rs. 1.43 per litre which will be notified by the respective Oil Marketing Companies. Detailed computations for the above prices, based on the Federal Government formula, are placed at the OGRA website (www.ogra.org.pk). It may be mention here that on May 13 last, the Supreme Court ordered the government to reduce the petroleum prices to reasonable level and the government came out with just a Rs 1.45 cut in petrol price.