Petrol price cut by Rs5.16, HSD’s by Rs7.69
In the latest daily review, petrol price dropped by Rs5.16 to Rs381.14 per litre, down from Rs386.30. Meanwhile, High-Speed Diesel (HSD) saw a decrease of Rs7.69 per litre, falling from Rs396.96 to Rs389.27. The new rates take effect on October 20. The price cuts reflect downward trends in global oil markets over the last seven days. Average refined petrol prices eased to USD 121.44 per barrel from USD 124.39 on October 17, while HSD dipped slightly to USD 108.02 per barrel from USD 108.54. The sharper decline in diesel prices was primarily driven by a significant contraction in the HSD crack spread, which narrowed from USD 41.89 to USD 38.00 per barrel.