The government and Lanka India Oil Company yesterday said that the price of petrol would be reduced with effect from midnight Tuesday (Dec. 29).

The revised price of 90 Octane Petrol would be Rs. 115 per litre, down from Rs. 130, and 95 Octane Petrol Rs. 133, down from Rs. 148, the Ceylon Petroleum Corporation said.

The Opposition described the price reduction as a political gimmick to appease voters ahead of the forthcoming presidential election.

CPC Chairman Maj. Gen. (Rtd) Asoka Thoradeniya told The Island that the price of diesel and kerosene had not been reduced and a decision would be taken later.

A spokesman for the government said that the government was exploring the possibility of reducing the price of diesel and kerosene oil.

Trade and Commerce Minister Bandula Gunawardane yesterday said the government was considering a reduction in LP gas.