The government on Friday reduced the price of petrol by Rs. 4/liter while keeping the diesel rate unchanged for the week ending June 12, citing prevailing global trends.
In a notification, the Petroleum Division said the ex-depot price of high-speed diesel would remain Rs. 380.78/liter for the coming week, while that of petrol has declined from Rs. 381.78/liter to Rs. 377.79/liter.
This marks the fourth consecutive decline in petrol prices, totaling a reduction of around Rs. 37/liter over the past month, the bulk of it from last week when the price was reduced by Rs. 22/liter. Around Rs. 125/liter of the current price is in the form of taxes, including the petroleum development levy, customs duty, and the climate levy.
For diesel, total taxes come to around Rs. 100/liter, with the government reducing the rate to maintain the ex-depot price this week, as the fuel’s global rate is somewhat elevated against the price of petrol. The decision stems from diesel’s inflationary impact, as it primarily used in transportation and agriculture.
The government has also increased the price of kerosene oil by Rs. 8.70/liter to Rs. 280.70/liter.