Petrol price cut by Rs7.06, HSD’s by Rs3.71
The price of petrol has been reduced by Rs 7.06 per litre, bringing the retail price down to Rs 362 per litre. High-Speed Diesel saw a cut of Rs 3.71 per litre, fixing its new rate at Rs 387.81 per litre, down from the previous Rs 391.52 per litre. Consumers across the country will get relief at the fuel pumps on November 5, as the Oil and Gas Regulatory Authority (OGRA) announced a reduction in the ex-depot prices of petrol and High-Speed Diesel (HSD). Under a new pricing mechanism announced on Monday for 30 days, oil refineries will contribute to the petroleum levy by bearing a cumulative impact of Rs15 billion, according to the government. This would allow a Rs14.71 reduction in the petrol price at the consumer end.