The petrol prices have been slashed down by Rs4.86 per litre for January 2019. The new petrol price is Rs90.97 per litre. So just ahead of the New Year, the government has given some relief to the public.
The price of high speed diesel, kerosene and light diesel oil have also been reduced by Rs4.26 per litre, 52 paisa and Rs2.16 per litre respectively. The new reduced price by high speed diesel is Rs196.68 per litre. The new reduced price of kerosene is Rs82.97 and the new reduced price of light diesel oil is Rs75.28 per liter.
Earlier Oil and Gas Regulatory Authority (Ogra) suggested a decrease in petroleum products prices by 13.5% or Rs 15 for January 2019. The suggestion was to decrease the petrol prices by 10% or Rs 9.50 per litre, high-speed diesel price by 13.5% or Rs 15 per litre, kerosene oil by Rs. 0.25 per litre and light diesel oil (LDO) price by Rs 2 per litre respectively.
Now the government has not reduced it as recommended by OGRA but the petroleum product prices have been slashed slightly.
As the rates of crude oil have dropped in the global market, it has become convenient to reduce the prices of petrol.