Major reduction in petrol price expected from Aug 1
1 / 1
1. Petroleum prices likely to decrease by up to Rs11 per litre from the next fortnight
Petrol prices may decrease by Rs5.50 per litre, while high-speed diesel (HSD) could see a drop of up to Rs11 per litre. Kerosene is also expected to become cheaper by Rs5.84 per litre, and light diesel oil might fall by Rs5 per litre. The final rates will be confirmed today pending the prime minister’s approval.
Petrol and HSD prices had risen by Rs7.45 and Rs9.56 per litre on June 30, respectively, followed by further increases of Rs9.99 and Rs6.18 per litre on July 16. Prior to these hikes, between May 1 and June 15, the prices of both products had decreased by approximately Rs35 and Rs22 per litre, respectively. The government has also raised the maximum limit of the petroleum levy to Rs70 per litre in the current Finance Bill.
