Govt slashes diesel price by Rs1.77/litre, maintains petrol rate

The government has declared that petrol prices will stay the same, while high-speed diesel will see a decrease of Rs 1.77 per litre in its rate for the next fortnightly.

According to a notification issued by the Ministry of Finance, petrol's price maintained at Rs 279.75 per litre.

On the other hand, high-speed diesel's price has been lowered by Rs 1.77, now priced at Rs 285.56 per litre.

New petroleum prices will be effective from March 16, 2024.

In response to the volatile nature of global oil prices, this measure is intended to ensure domestic fuel price stability.

The Ministry of Finance conducts periodic evaluations of petroleum product pricing to ensure they reflect global market conditions, taking into account the economic impact and consumer welfare.