Petrol Prices Expected to Decrease Further Starting June 1st

The government is set to reduce fuel prices again, with petrol expected to drop by Rs4 per litre for the first half of June 2024, following a decline in international prices.

By May 23, 2024, global petroleum product prices had fallen by $1.68, bringing the price down to $96.19. If confirmed, this will be the third consecutive reduction in fuel prices, totaling a Rs24.85 per litre decrease. Additionally, international diesel prices have decreased by 83 cents to $98.40.

The government is also expected to cut the price of high-speed diesel (HSD) by about Rs3.5 per litre. Recently, domestic diesel prices were reduced for the second time in a row by Rs7.88, bringing the current price to Rs274.08 per litre.

With six sessions remaining until the next pricing update, the final prices will be influenced by global market trends and the exchange rate.

The new fuel prices will be announced at midnight on May 31, 2024, and will be effective for the first half of June.

Leave a Reply

Your email address will not be published. Required fields are marked *