The government on Wednesday decided to slash the price of petroleum products by as much as Rs7.01 per litre, a move that will ease the burden on the inflation-weary populace, with the new rates coming into effect on December 16.
It was expected that the government would reduce the price of petrol by Rs11, however, the Finance Division has lowered the rate of the commodity by Rs5 to Rs140.82 per litre.
Price of Petroleum Products
|Product||Existing price w.e.f 01.12.2021 (per litre)||New prices w.e.f 16.12.2021 (per litre)||PL/Ltr||ST/Ltr %||Increase/ Decrease
|High Speed Diesel (HSD)
|Light Diesel Oil
The price of diesel has been brought down by Rs5 to Rs137.62 per litre, kerosene by Rs7 to Rs109.53 per litre, and the rate of light diesel by Rs7.01 to Rs107.06 per litre.
It is pertinent to mention here that government kept the petroleum levy (PL) and sales tax (ST) per litre unchanged at 13.62 and 4.77% on MS petrol.
“The rates have been reduced in view of the declining price trend of petroleum products in global market and to transform the impact to the masses,” the statement read.
The rates have been reduced amid fluctuations in the prices of petroleum products in the international market.