ISLAMABAD : The prices of petroleum products are likely to be reduced from May 1. According to sources, Oil and Gas Regulatory Authority (Ogra) would soon send a summary of recommendation to the government for reduction in the prices of petroleum products. Sources said that price of Kerosene oil is likely to be reduced by Rs 1.33 per litre, High Octane Rs 2 per litre , light diesel Rs 1.20 per litre and diesel Rs 1.22 per litre.