The government has announced a reduction of up to Rs 30 in the prices of petroleum products. According to a statement issued by the Finance Division, the price of petrol is being reduced by Rs 15 per liter, after which its new price will be Rs 81.58.
The price of high-speed diesel has been reduced by Rs 27.15 paise after which it will be priced at Rs 80.10 paise. The statement said that the price of kerosene has been reduced by Rs 30 a paise and its new price will be Rs 47.44 paise.
Similarly, the new price of light diesel oil has come down by Rs 15 per liter to Rs 47.51. The new prices of petroleum products will be applicable from 12 AM.
It may be recalled that the Oil and Gas Regulatory Authority (OGRA) had sent to the Petroleum Division a summary of reduction in prices of petroleum products by up to Rs 44 from May 1 due to record fall in crude oil prices in the global market due to Coronavirus.
OGRA had proposed to reduce the petrol price by Rs 20.68 per liter from May 1. The authority had proposed a reduction in the prices of high-speed diesel and light diesel oil by Rs 33.94 and Rs 24.57 respectively. However, the government once again did not pass on the full relief of falling prices in the global market to the people.