The Ministry of Finance and Economic Affairs said that the prices of Octane 92 Petrol and Auto Diesel will be reduced with effect from midnight today (November 1).
Accordingly the price of a litre of Octane 92 Petrol will be reduced by Rs. 10 while the price of Auto Diesel will come down by Rs. 7, the ministry said.
Meanwhile the price of Lubricants including the 2T lubricants used in three-wheelers and small agricultural engines will be reduced by Rs. 10 per litre with effect from midnight today.
At the same time a cost based pricing mechanism will be implemented on fuel in place of the monthly fuel price formula, the ministry said in a statement issued announcing 15 important economic policy changes.
It said that the fuel prices are being reduced given the impact of fuel pricing on all strata of the society specially those engaged in transport, agriculture and fisheries sectors.
