The government has announced new petrol and diesel prices for the next 15 days.
On November 30th, the Petroleum Division has issued a notification in this regard.
According to the notification, the price of petrol has been reduced by Rs 2 per litre, bringing the new rate to Rs 263.45 per litre.
Similarly, the price of high-speed diesel has been cut by Rs 4.79 per litre, with the new price set at Rs 279.64 per litre.
Now, the new prices will be announced 15 days later.
On November 16, the petrol price remained unchanged, however, the price of high speed diesel was increased by Rs6.
High speed diesel is widely used in the agriculture and transport sectors, therefore, revision in its price will have a significant impact on consumers.
The government is also charging about Rs16-17 per litre in customs duty on petrol and HSD, irrespective of whether they are locally produced or imported.
It is pertinent to mention that the government recovered about Rs1.161 trillion through the petroleum levy alone in FY25 and expects this to jump by about 27 per cent to Rs1.470 trillion during the current fiscal year.
