Amid the recent decline in global oil rates, the prices of petroleum products are expected to go down to the rupee on March 16, Live news Learned on Wednesday.
Sources in the oil companies said that the price of petrol was likely to be reduced by Rs 14 per liter, while high-speed diesel (HSD) could be cut by Rs.
Similarly, sources said that kerosene and light diesel oil can be reduced by Rs 10 and Rs. 10 respectively.
However, the final price will be determined on the basis of ups and downs in global oil prices over the next three days.
On 28 February, the federal government reduced the price of HSD R0.50 and HSD for the next fortnight ending March 15.
Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers. High fuel prices greatly affect the budget of members of middle and lower middle classes, which mainly consume petrol for commuting.
On the other hand, an important part of the transport sector depends on high-speed diesel.
Its price is considered inflation as it is mainly used in heavy goods transport vehicles, trucks, buses, trains and agricultural machinery such as tractors, tube wells and threshers. Consumption of high-speed diesel contributes to rising prices of vegetables and other foods.
