Govt slashes petrol, diesel prices by Rs2

The government reduced petrol and diesel prices on Wednesday by Rs2 per litre each for the current fortnight ending May 15. In a late-night announcement, the Ministry of Finance said Ogra had reviewed and adjusted prices for petroleum products in view of the fluctuations in the international market. The ex-depot price of high-speed diesel (HSD) was decreased by Rs2 per litre (2 per cent) to Rs256.64 from Rs258.64 over the past fortnight. Most of the transport sector runs on HSD. Its price is considered inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube-wells and threshers and particularly adds to the prices of vegetables and other eatables.