After the recent reduction in the oil prices, the new prices of petrol will be Rs 57.66 per litre, kerosene oil Rs 51.87 per litre, light diesel oil Rs 48 per litre, and price of high-speed diesel would now be Rs 57.14 per litre.
The government has already slashed the oil prices from Rs 3 to Rs 15 per litre for providing relief to consumers effective from November 16 and government has again reduced the oil prices to provide further relief to the consumers.
Sources said that Petroleum Ministry had opposed the further cut in the petrol price due to fears of its smuggling to Afghanistan and India but government decided to reduce the price of petrol as government is planning to suspend the gas supply to the CNG stations under gas load shedding management programme in the peak winter season for two months. The suspension of the CNG stations would not upset the consumers, as they would have option to use the petrol as an alternative fuel at affordable prices.
Government is currently importing the diesel and the country requirement is being met through petrol locally produced by the refineries. Sources were of the view that the reduction in petrol price might be the part of the government policy to encourage the consumers to use petrol rather than diesel. Government wants to discourage the use of diesel due to its higher prices and encourage the use of petrol comparatively due its lower prices in the market.