Following a global drop in oil prices, the government may reduce petrol and high-speed diesel (HSD) prices by Rs. 17.21 and Rs. 41.78 per litre, respectively, according to a media report. The Oil Companies Advisory Council (OCAC) predicts that in the next bi-monthly review of petroleum, oil, and lubricant (POL) rates, petrol prices will fall to Rs. 231.53 per litre from Rs. 248.74 per litre, a Rs. 17.21 per litre decrease.
Similarly, diesel prices will fall to Rs. 234.76 per litre from Rs. 276.54 per litre, a Rs. 41.78 per litre decrease. Prices for kerosene and light diesel oil (LDO) will also fall. The issue is that when government increased the prices, they were increased abruptly and quickly while the so called customer relief is very less and slow.
The new prices will hopefully be applicable tonight, more details will be shared once this happens!