Business
In a significant relief effort, the government lowers the price of jet fuel and light diesel.
The government has issued a notification to bring down the costs of specified petroleum products substantially, including the rates of jet fuel and light diesel oil with immediate effect.
The statement said that the price of jet fuel has been lowered by Rs48.80 per litre. Post cut, the new tariff has been fixed at Rs283.52 per litre as against Rs332.32 per litre earlier.
The government has also cut the price of light diesel oil by Rs30.61 per litre. As a consequence, the new price of light diesel oil has been fixed at Rs244.93 per litre.
“The latest revision should provide some respite for sectors which are heavily dependent on these fuels. The decline in jet fuel prices is likely to be good news for the aviation sector, while reduced light diesel oil rates could help ease expenses for a range of industrial and agricultural sectors.
The new pricing will be effective immediately and individuals and businesses will be able to benefit from the reduction without delay, the notification said.