Petrol price cut by Rs2.71, HSD’s by 3 paise

Business Recorder reported that petrol and high-speed diesel (HSD) will cost less from October 14, following a government notification issued on Tuesday. Petrol now sells for Rs392.66 per litre after a reduction of Rs2.71, while HSD fell by only 3 paise to Rs396.82 per litre.

The lower rates follow softer international oil prices. Petrol's average refined cost slipped to USD 130.63 a barrel over the last week, down from USD 132.17 on October 13, while diesel's benchmark stayed flat at USD 108.43.

According to the Oil and Gas Regulatory Authority, the revision reflects global factors such as shifts in Platts quotations, premiums and other incidental charges. A Petroleum Division notice adds that levies and margins are largely unchanged, while petrol's import cost dropped from Rs284.59 to Rs281.88 a litre and diesel's stayed at Rs289.29.