Due to a decline in international market prices and a slight reduction in the import premium on petrol, there is a likelihood of a decrease of approximately Rs3.5 and Rs7 per liter in petrol and diesel prices, respectively,y for the next fortnight ending on May 31.
However, this relief is conditional on unchanged tax rates.
Sources revealed that based on current tax rates, the final calculation on May 15 is estimated to show a reduction of around Rs3.5 in the ex-depot price of petrol, while high-speed diesel (HSD) may see a decrease of Rs7 per liter.
The expected reduction in petrol prices is based on a fall of around $1.5 per barrel in international petrol prices and about $3 per barrel in diesel over the past two weeks.
The current ex-depot price of petrol is Rs 252.63 per liter. Petrol is mostly used in private transport, small vehicles, rickshaws, and two-wheelers, directly affecting the budget of the middle and lower-middle-income groups.
The current ex-depot price of high-speed diesel is Rs256.64 per liter.
