The government on Tuesday decided to reduce the prices of petrol and high-speed diesel (HSD) by Rs1.5 per litre from September 1.
Prices of other petroleum products will also be reduced. The price of kerosene will be reduced by Rs1.5 while the price of Light Diesel Oil (LDO) will be reduced by Rs1 per litre.
The notification issued by the Finance Division stated that the revised prices of petrol, HSD, kerosene and LDO as Rs118.3 per litre, Rs115.03 per litre, Rs86.80 per litre and Rs84.77 per litre, respectively.
The decision was made to provide relief to the public.
The notification added that “the government is firmly committed to ensuring stability in prices of essential commodities and has sustained the price pressure in line with its commitment to the common man,”
The Oil & Gas Regulatory Authority (Ogra) calculated Rs3.50 per litre reduction in the ex-depot price of petrol and approximately Rs5 per litre decrease in the ex-depot price of HSD.
Similarly, the ex-depot price of light diesel was calculated to go down by Rs2 per unit and the ex-depot price of kerosene oil was calculated to decline by Rs3 per unit.
On August 15, the government had kept unchanged the price of petrol at Rs119.80 per litre and that of HSD at Rs116.53 per litre. On the other hand, it had increased the ex-depot price of kerosene by 81 paisa per litre to Rs88.30. Also, the ex-depot price of light diesel oil was increased by Rs1.10 per litre to Rs85.77.
