The government is likely to reduce the price of petroleum by Rs1.30 per litre from August 1.
The summary proposed that the prices of High Speed Diesel (HSD), Light Diesel Oil (LDO), High Octane Blending Component (HOBC) and kerosene oil be slashed. Price of High Speed Diesel has been lowered by Rs 1.10 a liter while Light Diesel Oil and Hi-Octane have seen a reduction of Rs 2.50 and Rs 3 per liter. The price of kerosene may go down by Rs1.20 per litre. The final summary of the price cut will be sent to Finance Ministry on July 30.
