Govt cuts petrol price by Rs1.70, raises high-speed diesel by Rs1.39

The government on Tuesday reduced the price of petrol by Rs1.70 and increased the price of high-speed diesel (HSD) by Rs1.39 per litre. Following the revision, petrol will retail at Rs325.92 per litre while HSD will cost Rs382.25 per litre. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on HSD. According to the Petroleum Division’s notification, the new prices will be applicable on August 12. The price of HSD has come down from a peak of Rs520.35 recorded on April 3. Its price had started rising from Rs281 per litre after the US-Iran war broke out on February 28. The petrol price had peaked at Rs458.41 on April 3 after beginning its upward…