Major Petrol Price Drop Expected From May 16th.

                                                         

According to recent estimates, there is expectation for a significant drop in petrol prices starting on May 16. It is expected that the price of petrol would significantly drop by Rs. 12 per liter. This possible decline is linked to a decline in the price of petrol globally, which is now down to $6.32 per barrel and is getting closer to the $99.93 per barrel barrier.

Additionally, there's a chance that the price of fuel would drop by Rs. 9.70 per liter. This prospective decrease comes as the price of diesel fell to $4.97 per barrel globally. As a result, the price of diesel is currently at $99.08 per barrel.

It is important to note that the expected drop in the price of petrol and diesel comes after a drop in the price of petroleum products on May 1.