Petrol price slashed by Rs14 per litre, providing relief amidst inflation

As announced in an official notification by the Finance Division, the revised prices for petroleum products, applicable from December 16 to December 31, have been endorsed by the Oil and Gas Regulatory Authority (OGRA).

The recalibrated rates indicate a decline in petrol prices to Rs267.34 per litre, while the diesel rate has seen a reduction of Rs13.50 per litre, now standing at Rs276.21 per litre, according to the Finance Division’s official statement.

Furthermore, the cost of kerosene oil has been curtailed by Rs10.14 per litre, settling at Rs191.02, and light diesel oil is now priced at Rs164.64 per litre following a reduction of Rs11.29.

This adjustment comes in response to the notable decrease in global oil prices over the past two weeks, a factor contributing to the anticipation of a downward trend in fuel prices during the fortnightly review.

It’s imperative to note that the government undertakes a bi-weekly reassessment of petroleum product prices, aligning them with international market dynamics and the exchange rate of the rupee. This latest revision reflects a proactive approach by the authorities to mitigate the economic impact on the general populace.