Petrol price likely to remain unchanged in next fortnightly review. In the forthcoming fortnightly review, industry calculations suggest that the prices of essential petroleum products are poised for minimal changes, with diesel and kerosene rates anticipated to experience a slight downturn.
This projection aligns with the stabilization of global crude prices in recent days, as reported by The News on Thursday.
According to industry insiders, the ex-refinery and ex-depot prices of key petroleum products have displayed a notable absence of major fluctuations.
Notably, the widely used petrol is expected to see a marginal uptick of Rs0.19 per litre, reaching Rs281.53 compared to the existing Rs281.34.
In contrast, the ex-depot price of high-speed diesel (HSD), primarily utilized in transportation, is forecasted to witness a decline to Rs290.47 per litre for the upcoming fortnight. This marks a noteworthy decrease of Rs6.24 per litre from the current price of Rs296.71.
Similarly, kerosene, a vital fuel for cooking and lighting in rural areas, is slated to experience a decrease in its ex-depot price to Rs202.16 per litre, reflecting a reduction of Rs2.82 per litre compared to the present price of Rs204.98.
The report indicates that light speed diesel, another variant of diesel, is expected to undergo a price adjustment, with the ex-depot rate estimated at Rs176.18 per litre for the upcoming review, showing a decline of Rs4.27 per litre from the current Rs180.45.
Industry calculations propose an estimated exchange adjustment of zero for petrol, while HSD is expected to see an adjustment of Rs1.80 per litre.
Notably, the report underscores that the prices may be subject to change due to exchange rate fluctuations, as the industry did not factor in the exchange loss figure in its work for the next review.
Fuel prices in the country are determined on a fortnightly basis, factoring in fluctuating international energy market costs and the rupee-dollar parity to ensure a balanced impact on domestic consumers.
The report notes that global oil prices experienced pressure throughout November, with WTI trading at $76.5 a barrel on November 29, reflecting a nearly 7% decrease from October 29. Similarly, Brent exhibited a 5.4% decline, trading at $86.35 a barrel.
As the nation awaits the upcoming fuel price review, these insights provide a snapshot of the intricate dynamics influencing the cost of essential petroleum products.
As Petrol price likely to remain unchanged in next fortnightly review, however, it is essential to recognize that these projections are based on current market conditions and are subject to potential changes influenced by various economic factors in the future.
