In response to a drop in global prices, the government plans to reduce fuel costs once more. For the first half of June 2024, petrol prices are predicted to drop by an additional Rs4 per liter.
International petroleum product prices decreased by $1.68 by May 23, 2024, to reach $96.19. If verified, this would represent the third straight month that fuel prices have dropped, for a total drop of Rs24.85 per litre. In addition, the price of diesel has decreased by 83 cents to $98.40 on the global market.
Additionally, the government is probably going to lower the cost of high-speed diesel (HSD) by roughly Rs3.5 per liter. The price of domestic diesel was recently lowered for the second time in a row by Rs7.88, to Rs274.08 a litre.
The ultimate prices will be based on the currency rate and worldwide market movements, with six sessions remaining until the next pricing update.
On May 31, 2024, at midnight, the new fuel prices will be revealed. They will go into effect in the first part of June.
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