Petroleum prices likely to slash by Rs 13 in February

The petroleum prices are likely to cut by Rs 13 as Arab light crude oil has reached a new low in last 13 years.

Sources in the ministry of petroleum said on Wednesday that a cut was expected in petrol price by Rs 9 per litre, high speed diesel by Rs 8.74, light diesel by Rs 8.56, kerosene oil by Rs 9.77 and high octane by Rs 13 per liter. In February, the prices of petroleum products should at least go down by Rs 10 following the sudden decline in the price of crude oil in international market to 13-year-low, observers said.