Petrol prices likely to fall sharply from January 1

The authorities have prepared a plan for a major reduction in the prices of petroleum products for the next 15 days due to the sharp decline in crude oil prices in the international market.

Official sources say that the price of petrol is expected to fall by up to Rs 10.60 per liter, while the price of high-speed diesel can be seen to fall by up to Rs 8.59 per liter. Kerosene oil is likely to become cheaper by Rs 8.92 per liter, while the price of light diesel oil is likely to decrease by Rs 6.62 per liter.

If this proposal is approved, the price of petrol will come down from the current Rs 263.45 to around Rs 252.85 per liter, while the price of high-speed diesel will come down from Rs 265.65 to Rs 257.06 per liter.

The price of kerosene is expected to fall to Rs 171.62 from the current Rs 180.54.