Petrol price reduced by Rs. 10.28 for next fortnight by Government. In a welcome relief for consumers. The government on Tuesday announced a significant reduction in fuel prices for the next fortnight. Petrol prices have cut by Rs 10.28 per litre. While diesel has become cheaper by Rs 8.57 per litre, easing the financial burden on households and businesses alike. The government reaffirmed its commitment to monitoring global energy trends closely. And making adjustments when necessary to protect consumers from sharp price fluctuations.
The revised prices will come into effect from midnight and will remain applicable for the next 15 days. The decision follows a review of international oil prices and domestic market conditions, according to officials from the petroleum division. With this reduction, petrol and diesel rates are expect to provide much-needed relief to transporters, commuters, and industries that heavily rely on fuel. The cut is also likely to have a positive impact on inflation. As lower fuel costs can help reduce transportation and commodity prices.
Fuel prices are review on a fortnightly basis. And authorities stated that the latest adjustment reflects recent stability in global crude oil markets. Consumers across the country are advise to check updated rates at their local fuel stations. Meanwhile, the ex-depot price of HSD was decreased to Rs257.08 per litre for the current fortnight from Rs265.65 per litre. Most of the transport sector runs on HSD. Although general sales tax (GST) is zero on all the petroleum products, the government is charging Rs78 per litre on diesel and Rs82 per litre on petrol and high octane products on account of petrol levy and an Rs2.50 per litre climate support levy (CSL).
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The government is also charging about Rs16-17 per litre custom duty on petrol and HSD, irrespective of their local production or imports. In addition, about Rs17 per litre distribution and sale margins are going to oil companies and their dealers. Petrol and HSD are the major revenue spinners with their monthly average sales of about 700,000 – 800,000 tonnes per month compared to just 10,000 tonnes of monthly demand for kerosene. The government recovered about Rs1.161 trillion through the petroleum levy alone in FY2025 and expects this to jump by about 27pc to Rs1.470 trillion during the current fiscal year.