Petrol prices have dropped to Rs227.19 per liter, but high-speed diesel has jumped to Rs244.95 per liter. Petrol used to cost Rs230.24 and diesel Rs236.00 per liter, respectively.
A new Rs201.07 has been set for Kerosene oil, while a Rs 0.12 reduction has been made to the price of light diesel, bringing it from Rs191.44 to Rs191.32.
The new pricing will take effect on August 1, 2022, according to a statement from the Finance Division.
Changes were made as a result of lower petroleum product prices on the worldwide market.
“The government has decided to amend the present pricing of petroleum products because of the volatility in petroleum prices in the international market and exchange rate changes,” the statement stated.
Oil prices drops in international market
Reuters reported that oil prices fell on Monday as investors prepared for this week’s meeting of officials from OPEC and other big producers on supply adjustments, as dismal industrial data from China and Japan for July knocked on demand expectations.
Currently, the price of Brent crude is $102.78 a barrel, down $1.19, or 1.1 percent, at 0212 GMT. The price of West Texas Intermediate crude in the United States fell by $1.43, or 1.5%, to $97.19 a barrel.
