Government cuts petrol and diesel prices by rs1.97 per litre

WEB DESK: The government announced a reduction in the prices of key petroleum products for the next week, providing some relief to consumers amid fluctuating global oil trends.

According to a notification issued by the Ministry of Energy, the price of petrol has been lowered by Rs1.97 per litre, bringing the new rate to Rs297.53 per litre.

Similarly, the price of high-speed diesel has been reduced by the same amount, setting the new price at Rs309.50 per litre. The revised rates will take effect immediately and remain in place for seven days.

New prices effective immediately

The price adjustment applies to both petrol and diesel across the country. Kerosene oil and light diesel oil prices were not mentioned in the notification.

Consumers can expect the lower rates at petrol pumps starting from today, with the government directing oil marketing companies to implement the changes without delay.

The reduction comes as the government continues to monitor international crude oil prices and exchange rate fluctuations. Such periodic adjustments are part of the fortnightly fuel price review mechanism aimed at balancing the impact of global market volatility on the domestic economy.