There is a possibility of a reduction in the prices of petrol and diesel from May 1 as the international crude oil price has gone down, reported 24NewsHD TV channel.

It is expected that there would be a decrease of Rs5 per litre in the price of petrol while the diesel rate will also be cut by Rs8 per litre.

A fortnight ago, the government had increased the price of petrol by Rs4.53 per litre for the second half of April 2024, taking the new petrol price to Rs293.94.

A notification shared by the Finance Division said the price of high-speed diesel had also been increased by Rs8.14 per litre to Rs290.38 per litre.