The caretaker government on Friday slashed the price of petrol by Rs14 per litre and high-speed diesel by Rs13.5. The price of petrol is now Rs267.34/litre and HSD is Rs276.21/litre, according to a notification by the finance division.

The prices will be effective from December 16.

Kerosene oil also recorded a decline of Rs10.14. Its new price is Rs191.02 per litre. The price of light diesel oil decreased by Rs11.29 to reach Rs164.64 per litre.

It is pertinent to mention that a fall in the prices of petroleum products was expected amid a decrease in international oil prices.

The rate of crude oil in the international market fell from $79 per barrel to $73 per barrel over the last couple of weeks.