The government has announced a fresh cut in petrol and diesel prices for the next week. The new rates will take effect from midnight as authorities aim to provide relief to consumers facing rising transportation and living costs.
According to the official announcement, the government reduced petrol and diesel prices by Rs6 per liter. As a result, the new petrol price now stands at Rs403.78 per liter. Meanwhile, high-speed diesel will now cost Rs 402.78 per liter nationwide.
The latest reduction in diesel prices has attracted attention because transporters and commercial sectors heavily depend on diesel for daily operations. Lower fuel costs also help reduce transportation costs across industries. In addition, public transport operators may receive some financial relief after weeks of fluctuating fuel rates.
Earlier, government sources had already hinted at a reduction in petrol and diesel prices. Later, the authorities officially confirmed the decision and announced that the revised rates would remain effective for only one week.
This is the second fuel price cut within a short period. On May 15, the government had reduced fuel rates by Rs5 per liter. After that adjustment, petrol was available at Rs 409.78 per liter, while diesel was sold at Rs 409.58 per liter.
However, before these reductions, the country witnessed a major increase in fuel costs. Two weeks ago, authorities raised petrol prices by Rs14.92 per liter. At that time, petrol was priced at Rs. 414.78 per liter. Similarly, diesel prices increased by Rs 15 per liter, reaching Rs 414.58 per liter.
Economic experts believe lower diesel prices can positively impact inflation because transportation plays a key role in the supply chain. Therefore, any reduction in fuel costs may support lower prices for goods and services in local markets.
