Big Relief Coming? Government Hints at Major Fuel Price Drop

Good news for drivers: fuel prices are likely to go down in the next two weeks. Word on the street is that a cut of up to three rupees per liter is on the table, according to sources familiar with the situation.

Initial estimates show that the price for high-speed diesel (HSD) could see the biggest reduction, potentially dropping by a little over three rupees per liter. On the other hand, gasoline might only have a small decrease, maybe less than a rupee, or it could stay exactly the same.

The Oil and Gas Regulatory Authority (OGRA) is getting ready to submit its official price recommendations to the government this week. They base their calculations on what’s happening in the global oil market and the latest information from fuel companies here at home. Once that report is sent, it’s up to the Ministry of Finance to make the final decision after getting the Prime Minister’s approval.

It’s worth remembering that just a couple of weeks ago, the government made a significant move by cutting the price of high-speed diesel by almost 13 rupees per liter. Meanwhile, they decided to keep the cost of petrol unchanged.