In the coming month, there’s a promising likelihood of a substantial reduction in petroleum product prices. This potential decrease is sure to be welcomed by consumers, particularly considering the essential nature of fuel.
The Ministry of Finance is indicating that petroleum product prices may witness a decline. This favorable outlook is attributed to the strengthening value of the rupee, which can positively influence the costs associated with petroleum imports.
Commencing from October 1 and spanning the following 15 days, petrol prices are projected to decrease by 11 rupees 98 paise per liter. Similarly, diesel may become more economical, with an expected reduction of 9 rupees 17 paise.
It’s essential to bear in mind that on September 15, the government introduced a significant upward adjustment in petroleum product prices. This resulted in a considerable surge in petrol costs, a challenging period for consumers as it translated to heightened fuel expenses.
