Petroleum product prices, including petrol and high-speed diesel (HSD), are expected to see a slight reduction from November 1, with rates projected to decrease by up to Rs3 per litre.
According to sources, petrol and HSD costs have fallen in the global market by about $1.5 and $2.5 per barrel, respectively. This shift could lead to price drops of Rs3 per litre for petrol and Rs2.30 for HSD, depending on the finalised exchange rate and tax adjustments.
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The current ex-depot prices stand at Rs243.03 for petrol and Rs251.29 for HSD. While international import premiums on both products held steady, the currency exchange rate also remained stable, easing pressure on domestic rates.
On October 15, the government raised diesel prices by Rs5 per litre but maintained petrol at Rs247.03, marking the first increase after three months of steady declines driven by falling global prices.
