Petrol price cut by Rs2.20, diesel down Rs1.50 per litre

The federal government on Friday reduced the prices of petrol and high-speed diesel (HSD), with the revised rates taking effect from August 8.

According to a notification issued by the Petroleum Division, the price of petrol has been cut by Rs2.20 per litre to Rs327.62, while high-speed diesel has been reduced by Rs1.50 per litre to Rs380.86.

The government will continue to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on high-speed diesel.

The revised fuel prices will remain in effect from August 8 to August 10, the notification said.

Petrol and diesel prices have fallen significantly from their record highs of Rs458.41 and Rs520.35 per litre, respectively, reached on April 3.