Significant Drop in Petrol Prices
In a much-anticipated move, the government has announced a reduction in petroleum product prices, offering significant financial relief to consumers. This decision comes as a welcome change amidst the rising cost of living, as fuel prices directly impact various sectors of the economy. The adjustment is expected to provide some respite to households and businesses alike.
Petrol Price Reduced to Rs 247.03
The price of petrol has been slashed by Rs 2.7 per liter, bringing the new rate to Rs 247.03 per liter. This reduction is likely to ease transportation costs and reduce the financial pressure on motorists. With the downward revision, the government aims to cushion the impact of global oil market fluctuations on the local population.
High-Speed Diesel and Light Diesel Price Cut
High-speed diesel, a key fuel for commercial vehicles, has seen an even more significant reduction. Its price has been decreased by Rs 3.40 per liter. This move is expected to benefit the transport and logistics industries, which rely heavily on diesel, potentially leading to lower costs of goods and services. Similarly, light diesel oil has been reduced by Rs 1.30 per liter, contributing further relief for transporters and industries.
Kerosene Oil Prices Also Lowered
Meanwhile, kerosene oil, commonly used for domestic heating and cooking, witnessed a decrease of Rs 3.57 per liter. This price reduction is particularly beneficial for lower-income households that depend on kerosene for their energy needs, providing them with some financial respite as winter approaches.
Positive Economic Impact Expected
Overall, these price reductions signal the government’s effort to stabilize fuel costs and lessen the financial burden on the public. The decrease is expected to have a positive ripple effect across the economy, easing inflationary pressures and helping consumers cope with rising living expenses
