Due to a sharp drop in POL-on international markets, the prices of petroleum products are likely to go down by up to Rs15 on October 1. Industry sources reported this on Tuesday.
According to experts in the oil industry, the price of diesel could go down by Rs15, and the cost of gasoline could go down by Rs5. The sources said these price changes could happen in the next two weeks.
They said that the new price would be based on the oil price on international markets until September 29. “If the government kept the petroleum levy at its current level, the price of POL would go down,” they said, Under a deal with the International Monetary Fund (IMF), the government has to charge a tax on petroleum products.
A notice from September 1 says that petrol has a petroleum levy of Rs37.50 per liter and diesel has a petroleum levy of Rs7.50 per liter.
Current POL Prices:
On September 21, the government raised the price of gasoline from Rs235.98 to Rs237.43. The cost of High-Speed Diesel (HSD) stayed the same at Rs247.43.
The price of kerosene went from Rs210.32 to Rs202.02, a drop of Rs8.30. The cost of light diesel oil went from Rs201.54 to Rs197.28, a decline of Rs4.26.
