Petrol, diesel prices cut by up to Rs4.21 per litre

The government has announced a reduction in the prices of petroleum products, providing some relief to consumers amid rising fuel costs.

According to a notification issued by the Petroleum Division on Wednesday, the price of petrol has been reduced by Rs1.93 per litre. The price of high-speed diesel (HSD) has also been cut by Rs4.21 per litre.

Following the latest reduction, the new price of petrol has been fixed at Rs390.12 per litre. The price of high-speed diesel has been set at Rs414.75 per litre.

The Petroleum Division said the revised prices would take effect immediately and remain applicable for the announced period. The adjustment was made after reviewing the prices of petroleum products.

The reduction in fuel prices is expected to provide some relief to motorists and consumers. Petrol is widely used by private vehicles, motorcycles and other transport services, while diesel is extensively used by public transport, heavy vehicles, agricultural machinery and other commercial sectors.

Changes in petroleum prices also have a wider impact on the economy. Fuel costs influence transportation expenses and can affect the prices of goods and services. A reduction in diesel prices may particularly help reduce operating costs for the transport and logistics sectors.

The latest decision comes as consumers continue to closely monitor fuel prices because of their direct impact on household and business expenses. The new rates will remain applicable according to the government’s latest notification.