The government on Thursday reduced petrol and high-speed diesel prices, offering consumers slight relief at fuel stations across the country.
According to the Petroleum Division’s notification, petrol prices fell by Rs 0.84 per litre, while high-speed diesel (HSD) became Rs 2.63 cheaper. The revised prices will take effect from Friday, September 25.
Petrol will now cost Rs 389.28 per litre, while the new HSD price stands at Rs 412.12 per litre. Meanwhile, the government continues to impose Rs 114 per litre in taxes and duties on petrol and Rs 100 per litre on diesel.
Fuel Prices Show Significant Decline
The latest reduction comes after fuel prices recorded substantial increases earlier this year. HSD had reached a peak of Rs 520.35 per litre on April 3, after rising from Rs 281 following the outbreak of the US-Iran conflict on February 28.
Similarly, petrol prices peaked at Rs 458.41 per litre on April 3. The price had started climbing from Rs 266 during the first week of March amid international market pressures.
Government Tightens Austerity Measures
Meanwhile, the government has revived several austerity measures as fuel prices remain sensitive to developments in the Middle East. Under the new measures, markets must close by 9pm to help reduce energy consumption.
Furthermore, authorities have reduced fuel allocations for official vehicles by 50% for three months. The government introduced these steps as part of efforts to manage fuel consumption and limit pressure on public finances.
The latest price cuts could provide modest relief to motorists and transport operators. However, fuel prices remain vulnerable to changes in global oil markets and geopolitical developments.
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