ISLAMABAD: Federal government on Tuesday has reduced the price of petrol by Rs1.50 per liter.

According to a notification issued by Ministry of Finance, the prices of petrol, high speed diesel and kerosene have been reduced by Rs 1.5 per liter.

"Despite international price fluctuations in petroleum products and anticipated increase in future prices, the government has reduced the prices in order to provide maximum relief to the consumers," reads the notification.

The new prices of petrol, high speed diesel and kerosene oil have been fixed at Rs. 118.30, Rs. 115.03 and Rs. 86.80 respectively.

The price of light diesel has been reduced by Rs. 1 to Rs. 84.77 per liter.