Petrol, diesel unchanged as govt skips expected price cuts
Despite high expectations of a cut in the prices of two key fuel products, the government on Tuesday kept the prices of petrol and high-speed diesel (HSD) unchanged for the next fortnight. However, it slightly reduced the prices of kerosene, light diesel oil and liquefied petroleum gas (LPG). In a late-night announcement, the Ministry of Finance said the ex-depot prices of petrol and high-speed diesel had been maintained at Rs283.38 and Rs303.18 per litre, respectively. However, the ex-depot prices of kerosene and light diesel oil had been reduced by Rs3.82 and Rs3.40 per litre to Rs211.03 and Rs189.46. Sources said the HSD’s price should have gone down by Rs5 per litre but adjustments in tax rates were made to keep it unchanged. On the other hand, the petrol price reduction estimated to be around Rs17 per litre could not be made because of clearance of letters of credit for two cargoes on Oct 29. As a normal practice, this should have become part of the next fortnight’s pricing but was taken into calculation immediately.