Fuel price reduction with expectations to reduce cost of living: Officials

The Government has reduced Diesel  prices with effect from today along with the reduction Petrol prices for the second time in three weeks.

The Diesel prices has been reduced by Rs 15 per liter with effect from Monday 9.00 p.m. today expecting that it could help reduce the cost of living by reducing transportation cost.

“We expect that the reduction of Diesel prices will bring down the transportation cost of vegetables and other goods,” an official said.

He said that one of the reasons for the vegetable prices to be high was that the cost production was high.

However, the Diesel price reduction is unlikely to help in reducing public transport fares though private bus owners will be among the beneficiaries.  They have been complaining that their other costs including maintenance is high.

Meanwhile the prices of Petrol - 95 has been reduced by Rs 40 marking the second reduction in three weeks. The new price of Petrol - 95 will be Rs 370 per liter.

On October 1,  the price of Petrol - 92 was reduced by Rs 40.

The price of Petrol 95 was brought down by Rs 30 per liter on October 1. However this time a reduction has not been considered.