The government announces new petrol rates or keeps them unchanged as part of its fortnightly revision.

Petrol prices could be reduced by Rs13 to Rs15 per litre while high-speed diesel prices may see a cut of Rs11 per litre, according to reports. If such changes are approved, it would provide relief to consumers grappling with inflation.

As of March 11, the price of petrol stands at Rs255.63 per litre, with high-speed diesel priced at Rs258.64 per litre. Should the government approve the proposed reductions, the new petrol price could drop to Rs240.63 or Rs242.63 per litre.

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The potential cuts come as international oil prices have seen a notable decline, attributed to ongoing trade tensions between major economies. As of the latest reports, Brent crude prices fell by 6 cents, reaching $69.22 per barrel.