The government on Sunday slashed the prices of petrol and compressed natural gas (CNG) by Rs 2. The new rates will be effective from Monday (today). The Oil and Gas Regulatory Authority (OGRA) had sent a summary to the Ministry of Petroleum and Natural Resources on Saturday, recommending a decrease in petrol prices by Rs 2.32 per litre, High Speed Diesel by Rs 0.33 per litre and CNG by Rs 2.12 per kg as part of the regular revision of POL prices. The summary was approved by the ministry after which the price of petrol will be Rs 101.8 per litre, Light Speed Diesel is reduced by 63 paisas per litre and Kerosene Oil by 61 paisas per litre. In addition, the Finance Ministry has also approved a reduction in CNG price by Rs 2.12 per kilogram in Region-1 (Potohar, KP and Balochistan) and Rs1.94 in Region-2 (Sindh, Punjab). The new prices will be effective from Monday (today).