Anticipated for the upcoming week, petroleum prices are expected to see a decrease for the third consecutive time, marking a potential reduction of Rs5-18 per liter for diesel and petrol. This adjustment is primarily attributed to gains in the exchange rate.

Insiders, , suggest that the cost of High-Speed Diesel (HSD) might decline by approximately Rs5-6 per liter, likely falling below Rs300 per liter, unless the caretaker government chooses to raise the petroleum levy. Conversely, petrol is estimated to become cheaper by roughly Rs18 per liter.

These alterations stem from the recent appreciation of the rupee against the dollar by approximately Rs3 during the last two weeks. Additionally, the average price of diesel has decreased by around $1.3 per barrel, while the price of petrol has risen by about $3.5 per barrel.

The insiders also highlighted that while the drop in prices presents an opportunity for the government to increase the petroleum levy on HSD to the maximum allowable limit of Rs60 per liter from the current Rs55, revenue collections have been surpassing the set targets so far.