In a recent move, the government has decided to keep the price of petrol steady, while announcing a reduction in the price of high-speed diesel. As per the official notification, the price of petrol will continue to be Rs 279.75 per litre. On the other hand, high-speed diesel sees a price cut of Rs 1.77 per litre, bringing its new price to Rs 285.56 per litre.
This decision is seen as a response to the oscillating global oil prices, with the aim to maintain stability in domestic fuel rates. The Ministry of Finance is known to regularly review petroleum product prices to ensure alignment with international market trends, while also considering the impact on consumers and the economy.
While not explicitly stated in the notification, insider sources from the Ministry of Finance suggest that there has been a decrease of Rs. 2.12 per litre in the price of light diesel oil and Rs. 1.35 per litre in the price of kerosene.
The unchanged petrol prices and the reduced diesel prices are anticipated to bring relief to consumers, especially those who depend on diesel for transportation and industrial uses. This move is expected to have a positive impact on the overall economy.
