The government is considering changes to petroleum product prices, with a slight increase in petrol rates and significant cuts in diesel prices from August 16, sources said Wednesday.
According to 24NewsHD TV channel report, a proposal has been sent to raise the price of petrol by Rs 1.32 per litre, taking it from Rs 264.61 to Rs 265.93.
In contrast, the price of high-speed diesel may be slashed by Rs 11.75 per litre, bringing it down from Rs 285.83 to Rs 274.08.
The premium on petrol currently stands at $7.69 per barrel, while the premium on high-speed diesel is $3.20 per barrel, sources added.
The plan also includes a Rs 6.25 per litre cut in kerosene prices and a Rs 7.11 per litre reduction in light diesel.
If approved, the revised prices will be effective for the next 15 days starting August 16.