According to a notification issued by the finance ministry, the price of petrol has been decreased by Rs. 15.39 per liter to Rs. 273.10, while the price of high-speed diesel has been cut by Rs. 7.88 per liter to Rs. 274.08. The new prices will be effective from May 16.
In a brief statement, the finance ministry noted that the prices of petroleum products have shown a decreasing trend in the international market over the last fortnight. Consequently, the Oil & Gas Regulatory Authority (OGRA) calculated the consumer prices based on these international price fluctuations.
During the last fortnightly review of petroleum prices, the price of petrol was reduced by Rs. 5.45 per liter, and the price of high-speed diesel was decreased by Rs. 8.42 per liter.
