Govt cuts petrol price by Rs8.47 per litre ahead of schedule

The government has unexpectedly reduced petroleum prices ahead of the scheduled review date of August 16.

For the remainder of the month, petrol prices have been cut by Rs8.47 per litre, largely due to a decline in global fuel prices.

The new petrol price is Rs260.96 per litre, down from Rs269.43. In addition, the price of high-speed diesel (HSD) has been reduced from Rs272.77 to Rs266.07, a decrease of Rs6.70 per litre.

The announcement was made by the Ministry of Information on Tuesday.

While some may view this as a positive development, the reduction may not provide significant relief, as petrol remains above Rs260 per litre.

However, it could help some individuals save a small amount and slightly reduce their daily commuting expenses.