The government Petroleum products Price reduction has been announced.
According to the notification issued by the Finance Division on Sunday and Monday night Petrol 10 per liter at the price of Rs Diesel The price has been reduced by 13 rupees 6 paise.
According to the notification, the price of kerosene oil has been reduced by 11 rupees 15 paisa and the price of light diesel oil has been reduced by 12 rupees 12 paisa.
According to a Finance Division notification, ‘Oil and Gas Regulatory Authority (OGRA) has fixed consumer prices of petroleum products on the basis of price differentials in the international market.’
Petrol price reduced to Rs 249.10 from Rs 259.10, HSD reduced to Rs 249.69 from Rs 262.75, Kerosene oil reduced to Rs 158.47 from Rs 169.62 and Light Diesel oil reduced to Rs 154.05. 149.13 to Rs.
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The notification added that the prices will remain unchanged from September 16 for the next 15 days.
This is the fourth consecutive reduction in the prices of petroleum products in two months.
Petrol is mainly used in private transport, small vehicles, rickshaws and motorcycles. Lower fuel prices significantly relieve the budgets of the middle and lower middle class.
Crude oil prices are continuously falling in the global markets, the reduction in crude oil prices has led to a reduction in the prices of petroleum products as well as PSO aid adjustment and customs duty, the fruits of which are being shared by the people.
On the other hand, after the continuous decline in crude oil prices in the global market, they came to a level lower than December 2021.
According to RegZone, a website that monitors the prices of petroleum products in the global market, the price of Brent crude oil in the global market last week reached $69.08 per barrel, while WTI crude oil fell below the level of May 2023 to $65.82 per barrel. It’s done.
Crude oil prices fell below $70 to trade around $68 in the global market last week.
After Libya agreed to resume crude oil exports, prices fell due to an increase in supply.
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#Announcement #reduction #prices #petroleum #products
2024-09-16 04:16:35
– What are the new prices for petrol and diesel after the government’s recent announcement?
Table of Contents
Government Announces Reduction in Petroleum Products Prices
[Meta Description: The government has announced a reduction in petroleum products prices, effective immediately. Learn more about the new prices and how it will affect the economy.]
[Header Tags: Petroleum Products Price Reduction, Government Announcement, Fuel Prices, Petrol Price, Diesel Price]
Petroleum Products Price Reduction: A Relief for the Public
In a much-needed respite for the general public, the government has announced a reduction in petroleum products prices, effective from September 16. According to a notification issued by the Finance Division, the prices of petrol, diesel, kerosene oil, and light diesel oil have been reduced.
New Prices for Petroleum Products
The prices of petroleum products have been revised as follows:
Petrol: From Rs 259.10 to Rs 249.10 per liter (a reduction of Rs 10)
Diesel (HSD): From Rs 262.75 to Rs 249.69 per liter (a reduction of Rs 13.06)
Kerosene Oil: From Rs 169.62 to Rs 158.47 per liter (a reduction of Rs 11.15)
Light Diesel Oil: From Rs 149.13 to Rs 154.05 per liter (a reduction of Rs 12.12)
Reason behind the Price Reduction
The reduction in petroleum products prices is a result of the decrease in crude oil prices in the global market. The Oil and Gas Regulatory Authority (OGRA) has fixed consumer prices of petroleum products on the basis of price differentials in the international market.
Impact on the Economy
The reduction in petroleum products prices is expected to have a positive impact on the economy. Lower fuel prices will significantly relieve the budgets of the middle and lower middle class, who are the most affected by high fuel prices. Additionally, the reduction in fuel prices will also lead to a decrease in transportation costs, which will have a ripple effect on the entire economy.
Global Crude Oil Prices
The prices of crude oil have been continuously falling in the global markets. According to RegZone, a website that monitors the prices of petroleum products in the global market, the price of Brent crude oil in the global market last week reached $69.08 per barrel, while WTI crude oil fell below the level of May 2023 to $65.82 per barrel.
Conclusion
The reduction in petroleum products prices is a welcome move by the government, which will provide relief to the general public. With global crude oil prices continuing to fall, it is expected that fuel prices will remain stable or may even decrease further in the coming days.
Keyword Tags: Petroleum Products Price Reduction, Government Announcement, Fuel Prices, Petrol Price, Diesel Price, Crude Oil Prices, Economy, OGRA, Brent Crude Oil, WTI Crude Oil
– What are the new prices for petroleum products following the government’s announcement?
Here is a comprehensive and SEO-optimized article on the topic of the government’s announcement of a petroleum products price reduction:
Government Announces Petroleum Products Price Reduction: Relief for Citizens
In a welcome move, the government has announced a reduction in the prices of petroleum products, providing much-needed relief to citizens. According to a notification issued by the Finance Division on Sunday, the prices of petrol, diesel, kerosene oil, and light diesel oil have been reduced.
New Prices Take Effect
The new prices are effective from September 16 and will remain unchanged for the next 15 days. The prices of petroleum products have been reduced as follows:
Petrol: Rs 249.10 per liter (previously Rs 259.10)
Diesel (High-Speed Diesel): Rs 249.69 per liter (previously Rs 262.75)
Kerosene Oil: Rs 158.47 per liter (previously Rs 169.62)
Light Diesel Oil: Rs 154.05 per liter (previously Rs 169.13)
Fourth Consecutive Reduction in Two Months
This is the fourth consecutive reduction in the prices of petroleum products in two months, indicating a downward trend in global crude oil prices. The reduction in prices is expected to benefit citizens, particularly those from the middle and lower-middle-class segments, who rely heavily on private transport, rickshaws, and motorcycles.
Lower Fuel Prices Bring Relief
Lower fuel prices significantly relieve the budgets of the middle and lower-middle-class segments, who were previously bearing the brunt of high fuel prices. The reduction in fuel prices is expected to have a positive impact on the overall economy, as it will lead to a decrease in transportation costs and subsequently, inflation.
Global Crude Oil Prices Fall
The reduction in crude oil prices in the global market has led to a reduction in the prices of petroleum products. According to RegZone, a website that monitors the prices of petroleum products in the global market, the price of Brent crude oil in the global market last week reached $69.08 per barrel, while WTI crude oil fell below the level of May 2023 to $65.82 per barrel.
Libya’s Agreement to Resume Crude Oil Exports
The fall in crude oil prices can be attributed to Libya’s agreement to resume crude oil exports, which has led to an increase in supply and, subsequently, a decrease in prices.
Government’s Move to Share Benefits with Citizens
The government’s move to reduce the prices of petroleum products is seen as a positive step towards sharing the benefits of falling global crude oil prices with citizens. The reduction in prices is expected to have a positive impact on the economy and provide relief to citizens who were previously bearing the brunt of high fuel prices.
Conclusion
The government’s announcement of a petroleum products price reduction is a welcome move, providing much-needed relief to citizens. The reduction in prices is expected to have a positive impact on the economy and bring relief to the middle and lower-middle-class segments. With global crude oil prices continuing to fall, it remains to be seen whether the government will continue to pass on the benefits to citizens in the coming days.
Keywords: petroleum products, price reduction, government announcement, fuel prices, crude oil prices, global market, middle class, lower-middle class, economy, inflation, transportation costs.
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