Govt slashes high-speed diesel price by Rs7.76 per litre, petrol by Rs3.40

The government on Monday slashed the price of petrol by Rs3.40 per litre, and that of high-speed diesel (HSD) by Rs7.76. Following the revision, petrol will retail at Rs374.51 per litre, while HSD will cost Rs395.20. The prices are applicable for Nov 3 (Tuesday), according to a notification by the Oil and Gas Regulatory Authority. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel. Earlier today, the government said that oil refineries would bear a burden of approximately Rs15 billion each month, which would allow petrol to be sold…