Petrol, diesel cheaper again: petrol Rs332, diesel Rs360 a litre from Friday
A petrol station on GT Road. (File photo)
The government has cut fuel prices once again. From Friday, November 13, petrol will cost Rs332 a litre, down Rs3, while high-speed diesel will fall Rs4 to Rs360 a litre. The Oil and Gas Regulatory Authority (OGRA) issued the notification on Thursday night. It is the eighth consecutive cut in fuel prices.
How much have prices fallen since November 2?
According to OGRA, petrol has become cheaper by a cumulative Rs42.51 a litre since November 2, falling from Rs374.51 to Rs332. Diesel has come down Rs35.20 in the same period, from Rs395.20 to Rs360. On Wednesday, petrol had already been cut by Rs3 and diesel by Rs7, setting today’s prices at Rs335 and Rs364.
No change in taxes and levies
The government continues to levy Rs114 a litre in taxes and duties on petrol and Rs100 on diesel — unchanged. Under an arrangement announced on November 2, oil refineries are bearing a cumulative impact of Rs15 billion towards the petroleum levy over 30 days. OGRA has also begun publishing daily petroleum prices on its website to improve transparency.
A new daily review system
The government has moved to a daily fuel price review mechanism so that changes in international oil prices reach consumers more quickly. Officials say further relief is possible in the coming days if global prices stay soft and supply conditions keep improving.
