A substantial reduction in the prices of petrol and high-speed diesel is expected from tomorrow, August 1.
According to estimates of oil marketing companies, the price of petrol may decrease by Rs 6 and the price of high speed diesel by Rs 11.50 per liter from August 1.
0.5% additional withholding tax on petrol pumps has been abolished, notification issued
Kerosene and light diesel oil may also be cheaper by Rs 6.10 and Rs 5.50 per liter respectively. Fuel prices are being reduced due to the fall in international oil prices.
During the last two weeks, the average price of petrol in the world market has decreased from 89.50 dollars to 87.50 dollars per barrel, while diesel has decreased from 96.93 dollars to 94 dollars per barrel.
