After successive increases over the last few months, the government on 31st May decided to reduce petroleum products' prices by up to Rs 5.05 per litre in line with the reduction in global oil prices with effect from 1st June 2011. The price of petrol was lowered by Rs 1.70 to Rs 86.71 per litre, high-speed diesel by Rs 3.20 to Rs 94.11 per litre and kerosene oil by Rs 5.05 to Rs 84.65 per litre. Full story