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Summary The price of petroleum products likely to be reduced by Rs 3 per liter from Sep 1.
Finance Ministry has rejected the proposal of decrease in POL prices despite decrease in POL prices in international market. However if the ministry does not opposes the decrease, the prices would be reduces by Rs 3 per liter.Oil prices have reached $111 per barrel from $103 in Arab countries, therefore down ward trend in oil prices persisted in international markets.Due to decrease in oil prices in international market, petrol, high speed diesel and kerosene oil prices likely to be decreased by Rs 1.05, 60 paisa and Rs 1.76 respectively.
