Petrol & Diesel Prices May Drop After October 5 Amid Election Speculation

CLSA reports indicate that petrol and diesel prices may be reduced after October 5, following comments from Pankaj Jain, Secretary of the Ministry of Petroleum. Prices have remained unchanged since March 2024. With Maharashtra elections approaching, a price cut could be a populist move, although any reduction might be offset by an excise duty hike.