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ISLAMABAD: In the light of Supreme Court (SC) ruling, Oil and Gas Regulatory Authority (OGRA) has issued notification to slash petroleum product prices while the petroleum companies had been directed earlier to suspend carbon tax on petroleum products.According to the notification issued by OGRA, as much as 11 rupees per liter have been slashed from petroleum products.Following the suspension of carbon tax on petroleum products, now the new price of petrol stands at Rs. 50.53 per liter, Diesel Rs. 53.37, Light Diesel Rs. 51. 46, Kerosene oil Rs. 52.39 while HOBC stands at 62.54 per liter.According to OGRA sources, newly reduced prices will be applicable as soon as the issuance of notification.