Fuel Prices Likely To Drop From May 15
The prices of petroleum products across the country are likely to decline significantly for the next 15 days, which may provide some relief to the people from the burden of inflation.
According to sources, petrol and diesel are expected to become cheaper due to a slight decrease in the price of crude oil in the international market and import premium. Considering the current tax rate, the ex-depot price of petrol is estimated to decrease by about Rs 3.5 per liter and high-speed diesel by Rs 7 per liter on May 15.
During the last two weeks, the price of petrol in the international market has decreased by about $ 1.5 per barrel and diesel by $ 3 per barrel, which is likely to have an impact on local rates.
Currently, the price of petrol at the ex-depot is Rs 252.63 per liter, which may decrease further after the possible reduction.
