Big drop in diesel price likely
According to the data, High-Speed Diesel (HSD) prices are expected to see a significant cut of Rs12.91 per litre, bringing the ex-depot rate down to Rs272.92 from Rs285.83.
The decrease is attributed to a notable drop in the ex-refinery price, falling to Rs170.66 from Rs183.57.
In contrast, the price of petrol is expected to increase by Rs1.04 per litre, taking the ex-depot price to Rs265.65 from the current Rs264.61. This rise is largely driven by an increase in the ex-refinery price, which has moved up to Rs159.92 per litre from Rs158.88.
Meanwhile, other cost components, including margins, levies, and inland freight equalisation, remain unchanged.
The petroleum levy remains unchanged at Rs78.02 per litre for petrol and Rs77.01 for diesel, while no sales tax is currently applied on either fuel type.
If approved, the revision will be implemented in line with the government's fortnightly pricing mechanism, which reflects movements in global oil prices and the exchange rate.
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