Govt cuts petrol price by Rs1.70, raises diesel by Rs1.39 per litre

The price of petrol has been cut by Rs1.70 per litre to Rs325.92, while high-speed diesel (HSD) has been increased by Rs1.39 to Rs382.25 per litre.

The government is currently collecting Rs114 per litre in taxes and duties on petrol and Rs100 per litre on HSD.

The revised rates will take effect on August 12, according to a notification issued by the Petroleum Division.

Despite the latest increase, the price of HSD remains well below its April peak of Rs520.35 per litre. It had climbed from Rs281 per litre after the US-Iran conflict began on February 28.

Petrol had also reached a high of Rs458.41 per litre on April 3, after rising from Rs266 in the first week of March.