The government has announced a reduction in petroleum prices, offering some relief to the public. According to the notification, the price of petrol has been cut by Rs 2.70 per litre, bringing the new rate to Rs 247.03 per litre.
The price of high-speed diesel has also been reduced by Rs 3.40 per litre, while light diesel is now cheaper by Rs 1.30 per litre. In addition, the cost of kerosene oil has dropped by Rs 3.57 per litre.
These price cuts are meant to help reduce inflationary pressures faced by consumers as a result of rising global fuel costs. Prior reports had suggested that a reduction in prices could be expected from October 1, with estimates indicating a decrease of Rs 1 to Rs 3 per litre.
This move aims to ease the financial burden on the public, who have been dealing with rising living costs for some time. The reduction in fuel prices is likely to have a positive effect on transport costs and the overall cost of goods and services, benefiting the general population.
The government’s decision to lower petroleum prices comes as a much-needed measure to provide relief, especially for low- and middle-income households who are heavily impacted by fluctuating fuel prices.
This price cut, although small, signals the government’s effort to cushion the impact of inflation on everyday expenses and support the public amid challenging economic times.
