Petrol prices have been continuously increasing, with two hikes in the past few days. However, there is finally good news for those stressed by inflation and the rising cost of living.
Petrol prices are likely to decrease by Rs. 2.90 per liter, and diesel prices by Rs. 8.50 per liter.
The expected reason behind this is the reduction of petrol prices in the international market, which have fallen from $89.50 to $87.50 per barrel.
Similarly, the price of HSD has decreased from $96.93 to $94 per barrel. In the past two weeks, the import costs for both products have also decreased, from $9 to $8.80 per barrel for petrol and from $6.50 to $5 per barrel for HSD.
Petroleum is most commonly used in private transport, rickshaws, and motorcycles, placing a heavy burden on the lower and middle-class population.
People who rely on private transport and small vehicles to commute to work have been under significant stress due to the high petrol prices.
This expected price reduction will provide some relief to the lower and middle-class communities.
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