The government is expected to reduce petrol price by an additional Rs9 per liter for the latter half of June 2024, offering some relief to the public amidst soaring inflation.
This anticipated reduction marks the fourth consecutive decrease, accumulating to a total relief of over Rs34 per litre.
In tandem with the petrol price cut, the government is also likely to lower the price of high-speed diesel (HSD) by approximately Rs5 per liter, reflecting the downturn in international market prices.
It is important to highlight that one more session remains before the final pricing update, which means that the exact figures will depend on fluctuations in global markets and the prevailing exchange rate.
The new prices will be officially announced at midnight on 15th June 2024 and will be effective for the subsequent 15 days.
In the most recent fortnightly adjustment, the government had reduced petrol and HSD prices for the third consecutive time by Rs4.74 and Rs3.86 respectively, bringing their prices to Rs268.36 and Rs270.22 per liter.
This series of price reductions aims to provide some economic respite to consumers amid a challenging economic environment.
