The government decreased the prices of petrol and diesel by Rs2.04 and Rs6.47, respectively, following a fortnightly revision on Wednesday.

After the decline, the new price of petrol is now Rs281.34 per litre and high-speed diesel will be Rs296.71/litre.

The new prices would be effective from November 16, according to the notification issued by the finance ministry.

The light diesel and kerosene prices were reduced by Rs9.01 and Rs6.05 to Rs180.45 and Rs204.98/litre, respectively.

Earlier, sources had said that the price of diesel could be decreased by up to Rs8 while the price of petrol could be increased by Rs2 to Rs3. However, the government could keep both prices unchanged as well.

It is pertinent to mention that the government government kept the petrol and diesel prices unchanged, in the previous fortnightly revision.