SELECT 
  product_prices.product_id, 
  MIN(
    IF(
      product_prices.percentage_discount = 0, 
      product_prices.price, 
      product_prices.price - (
        product_prices.price * product_prices.percentage_discount
      )/ 100
    )
  ) AS price 
FROM 
  product_prices 
WHERE 
  product_prices.product_id IN (
    253997, 263740, 261960, 263454, 255355, 
    257117, 253991, 263431, 254003, 253996, 
    268001, 253999, 268000, 255360, 263451, 
    263452, 262071, 257118, 262069, 262067, 
    263455, 260871, 263450, 263737
  ) 
  AND product_prices.lower_limit = 1 
  AND product_prices.usergroup_id IN (0, 1) 
GROUP BY 
  product_prices.product_id

Query time 0.00124

JSON explain

{
  "query_block": {
    "select_id": 1,
    "cost_info": {
      "query_cost": "22.40"
    },
    "grouping_operation": {
      "using_filesort": false,
      "table": {
        "table_name": "product_prices",
        "access_type": "range",
        "possible_keys": [
          "usergroup",
          "product_id",
          "lower_limit",
          "usergroup_id"
        ],
        "key": "product_id",
        "used_key_parts": [
          "product_id"
        ],
        "key_length": "3",
        "rows_examined_per_scan": 31,
        "rows_produced_per_join": 3,
        "filtered": "10.00",
        "index_condition": "(`goimagine`.`product_prices`.`product_id` in (253997,263740,261960,263454,255355,257117,253991,263431,254003,253996,268001,253999,268000,255360,263451,263452,262071,257118,262069,262067,263455,260871,263450,263737))",
        "cost_info": {
          "read_cost": "22.09",
          "eval_cost": "0.31",
          "prefix_cost": "22.40",
          "data_read_per_join": "74"
        },
        "used_columns": [
          "id",
          "product_id",
          "price",
          "percentage_discount",
          "lower_limit",
          "usergroup_id"
        ],
        "attached_condition": "((`goimagine`.`product_prices`.`lower_limit` = 1) and (`goimagine`.`product_prices`.`usergroup_id` in (0,1)))"
      }
    }
  }
}