Due to the improvement in the value of the rupee, the production cost of oil companies has decreased. This is because when the value of the rupee strengthens against other currencies, it reduces the cost of importing raw materials and equipment needed for oil production. As a result, oil companies can produce oil at a lower cost.
When the production cost decreases, there is a possibility of a decrease in the prices of petroleum products. This is because the cost of production is one of the factors that influence the pricing of petroleum products. If the cost of production goes down, it can potentially lead to a decrease in the prices of petroleum products.
There is a possibility of a significant decrease in fuel prices. Diesel prices may decrease by 9.17 rupees, petrol prices by 11.98 rupees, and kerosene oil prices by 5.58 rupees. This potential decrease in prices is good news for consumers and may provide some relief in transportation and household expenses. However, it’s important to note that these are projections and the final prices will depend on various factors such as international oil prices and government policies.
On September 30th, the government will announce its final decision regarding the potential decrease in petroleum product prices. It is an important date for consumers as they eagerly await the outcome, as any changes in fuel prices can have a significant impact on their daily expenses and transportation costs.
