Petrol Price Drops to Rs. 330 per Litre, Lowest Since August

The federal government has announced a reduction in the price of motor spirit (petrol) by Rs. 2 per litre, bringing it down to Rs. 330 per litre. This is the ninth consecutive decrease in petrol prices since last week, according to a notification issued by the government. The last time petrol was priced at this level was on August 17, when it stood at Rs. 331 per litre.

The price of high-speed diesel (HSD) has been kept unchanged at Rs. 360 per litre. Earlier on Thursday, the government had cut petrol price by Rs. 3 per litre to Rs. 332 and diesel by Rs. 4 to Rs. 360. The latest reduction means petrol is now at its lowest level since mid-August.

These frequent price adjustments come amid fluctuations in international oil prices and exchange rate movements. The government reviews petroleum product prices on a fortnightly basis, but recent changes have been announced more frequently. The continuous decline in petrol prices is expected to provide some relief to consumers and may have a positive impact on inflation.

Petrol is a key fuel for transportation and its price affects the cost of commuting and goods transport. The reduction could ease pressure on household budgets and lower operational costs for businesses. However, diesel, which is widely used in heavy transport and agriculture, remains unchanged, which may limit the overall impact on inflation.

The government has not specified the duration for which the new prices will remain in effect, but the notification indicates that the reduction is effective immediately. Consumers are advised to check the latest prices at their local fuel stations. The move is part of the government's efforts to pass on the benefit of falling international oil prices to the public.