Petrol price expected to drop further from Sep

MG News | August 23, 2024 at 04:25 PM GMT+05:00

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July 29, 2024 (MLN): Petrol prices are expected to drop by Rs5.9 per litre following a decline in international rates, price estimates up to August 23, 2024 show.

That would be the third consecutive decrease, and would bring the petrol price down to Rs255.06 per litre.

Price estimates indicate the ex-refinery price of petroleum has fallen to around Rs170.7 compared to the previous fortnight's Rs176.66 per litre.

The government is also expected to cut the price of high-speed diesel (HSD) by around Rs6 per litre due to a decrease in its international price.

It is important to note that there is still a week left for the next pricing update; thus, the final prices will depend on global market movements and the exchange rate.

The government will announce the new prices at midnight on August 31, 2024, which will remain in effect for the first half of September.

To recall, in the last fortnight, the government decreased the price of petrol by Rs8.47 to Rs260.96 per litre.

Similarly, the price of High-Speed Diesel (HSD) was slashed by Rs6.7 to Rs266.07 per litre.

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