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A significant reduction in petroleum prices is anticipated from February 16, offering relief to consumers. Prices may drop by up to Rs9 per liter due to global market trends.
Media reports citing industry sources indicate that the price of high-speed diesel could decrease by Rs9.11 per liter, while petrol may see a reduction of Rs2.50 per liter. Moreover, kerosene is likely to drop by Rs3.45 per liter, and light diesel may become cheaper by Rs5.60 per liter.
The industry has submitted its proposals to the Oil and Gas Regulatory Authority (OGRA), which will forward its final recommendations to the government on February 15.
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In the last review, a price increase for high-speed diesel (HSD) was implemented, with an increase of Rs7 per liter effective from February 1. The price of petrol had also been raised by Rs1 per liter for the first fortnight of February 2025.
