Govt cuts petrol price by 12 paisas, diesel by 66 paisas

The government on Friday announced a slight cut in the prices of petrol and high-speed diesel (HSD).

Under the revised rates, the price of petrol has been reduced by Rs0.12 per litre to Rs336.03, while HSD has become cheaper by Rs0.66 per litre and will now be sold at Rs392.38 per litre.

According to a notification issued by the Petroleum Division, the revised fuel prices will remain in effect from August 1 to August 3.

Despite the reduction, the government is still charging Rs110 per litre in taxes and duties on petrol and Rs96 per litre on high-speed diesel.

Petrol prices had reached a record high of Rs458.41 per litre on April 3 after climbing steadily from Rs266 per litre during the first week of March.