Govt slashes petrol price by Rs8 per litre, high-speed diesel by Rs7 in another reduction

The government has reduced petrol by Rs8 per litre and high-speed diesel (HSD) by Rs7, with the new rates taking effect on Nov 11, Dawn reported. Petrol will cost Rs338 per litre and HSD Rs371, according to an Oil and Gas Regulatory Authority notification. Taxes and duties remain Rs114 per litre on petrol and Rs100 on diesel.

The government says oil refineries will shoulder a cumulative Rs15 billion contribution to the petroleum levy over 30 days under an arrangement announced on Nov 2, enabling a Rs14.71 cut in petrol for consumers. The revision follows earlier steep increases: petrol reached Rs458.41 and HSD Rs520.35 on April 3. Fuel costs are relevant to transport and energy users, while the lower rates also arrive as the government continues targeted relief and fuel-conservation measures.