The federal government on Friday reduced petroleum prices by up to Rs5.31 per litre for the next two weeks.
As per a Finance Ministry notification, the price of high-speed diesel dropped by Rs5.31 per litre, while petrol saw a minor cut of 50 paisas.
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Light diesel was reduced by Rs2.47 per litre, and kerosene oil saw a Rs3.53 per litre decrease.
Petrol, essential for private vehicles, motorcycles, and small transport, affects middle and lower-income groups with any price changes.
Diesel, vital for heavy transport, agriculture, and railways, influences inflation and the cost of essential goods.
Despite keeping general sales tax (GST) at zero, the government still collects Rs76 per litre in taxes on petrol and diesel, including a Rs60 per litre petroleum development levy (PDL) and Rs16 per litre in customs duties.
