Govt maintains petrol price, cuts diesel rate by Rs3 per litre

The government has maintained the petrol price at Rs264.61 per litre and cut the diesel by Rs3 per litre for the next 15 days, as per an official notification issued on Sunday.

The new prices will be effective from September 1, according to an official notification issued by the Ministry of Finance.

It stated that the price of Superior Kerosene Oil (SKO) was reduced by Rs1.46 per litre, and that of Light Diesel Oil (LDO) by Rs2.4 per litre.

The new prices of high speed diesel, kerosene, and light diesel will be Rs269.99, Rs176.81, and Rs159.76 per litre, respectively.

Petrol powers small vehicles, rickshaws, and bikes, making price hikes especially hard on middle- and lower-income households who depend on it for daily commuting.

In contrast, a substantial portion of the transport sector depends on high-speed diesel. Its price is considered inflationary due to its widespread use in trucks, buses, trains, and farm machinery, such as tractors and tube wells.

The increased cost of high-speed diesel directly contributes to the rising prices of vegetables and other essential food items.