The Government reduced the price of gasoline on Saturday by RE1 per liter for the next fortnight and that of the high -speed diesel per RS4.
A press release from the Finance Division said the decision was made after the oil and gas regulatory authority reviewed and adjusted the consumer prices of oil derived products in view of recent fluctuations in the international oil market .
He said the new gasoline price was RS256.13 and that of HSD RS263.95.
Light diesel oil prices (LDO) and supercarosene oil were also reduced to RS155.81 and RS171.65, respectively, after RS5.25 and RS3.2 cuts.
The informed sources had previously said that the price of ex-Depot gasoline was estimated at RS2-2.50 per liter, depending on the final calculation on February 15, while HSD was expected to fall in approximately RS9. It was estimated that the prices of Queroseno and Ldo fall in approximately RS3.45 to RS5 per liter.
Estimates of the highest prices of oil derived products come from a decrease in the international market.
The reference Brent prices decreased by $ 2 per barrel last fortnight. These sources had said that HSD’s average prices decreased by around $ 3 per barrel in the international market, while those of gasoline fell into approximately 90 cents per barrel last fortnight. The exhroseno and Ldo refinery cost also fell. The import premium on gasoline fell at $ 1 $ 7.75 per barrel from $ 8.8, while remained unchanged in diesel.
As a result, the last calculation as of February 29 showed around RS9 per liter of decrease in the HSD rate, RS2.50 per liter in gasoline, RS3.50 per liter in querosene and approximately RS5 per liter in Ldo.
The Ex-Depot gasoline price is currently RS257.13 per liter, while HSD is RS267.95 per liter. The official Kerosene rate is RS174.85 per liter, but it is sold to RS300-350 per liter.
Gasoline is mainly used in private transport, small vehicles, Rickshaws and two -wheeled vehicles, and directly affects the budget of the middle and lower classes.
The majority of the transport sector works with HSD. Its price is considered inflationary, since it is mainly used in heavy transport vehicles, trains and agricultural motors such as trucks, buses, tractors, wells and tubes trillators, and in particular it adds to the prices of vegetables and other grocery.
