After record surge, petrol, diesel and LPG prices to fall

After a record increase in rates, petrol, diesel and domestic cooking gas (LPG) prices are likely to fall in the near term as international oil prices have softened, a top official said Wednesday.

While petrol and diesel prices have already been cut thrice in one week, cooking gas (LPG) price too will see a reduction in the near future, the official, who did not want to be identified, said.

“International oil prices, which are the benchmark for deciding retail rates, have softened over the past few days. Though there had been some firming up of prices on Tuesday, overall the trend has been of a decline, which should reflect in domestic retail rates as well,” he said.