According to sources at oil marketing companies (OMCs), the price of gasoline is expected to drop by 4.5 rupees per litre, while the price of diesel is expected to drop by 6 rupees per litre.
Diesel is widely used in the transportation and agricultural sectors. Given that the harvesting season has begun, the price drop may mitigate the effects of inflation while also giving farmers some solace.
Consumers already struggle with high prices, especially those with modest incomes who travel in motorcycles and small vehicles.
In response to rising petroleum costs on the global market and changes in exchange rates, the federal government approved price increases for fuel and gasoline last fortnight.