SELECT 
  cscart_product_prices.product_id, 
  MIN(
    IF(
      cscart_product_prices.percentage_discount = 0, 
      cscart_product_prices.price, 
      cscart_product_prices.price - (
        cscart_product_prices.price * cscart_product_prices.percentage_discount
      )/ 100
    )
  ) AS price 
FROM 
  cscart_product_prices 
WHERE 
  cscart_product_prices.product_id IN (
    31964, 113408, 118255, 31165, 32790, 
    52428, 52435, 73429, 80787, 88373
  ) 
  AND cscart_product_prices.lower_limit = 1 
  AND cscart_product_prices.usergroup_id IN (0, 1) 
GROUP BY 
  cscart_product_prices.product_id

Query time 0.00063

Explain
id select_type table type possible_keys key key_len ref rows Extra
1 SIMPLE cscart_product_prices range usergroup,product_id,lower_limit,usergroup_id usergroup 9 20 Using where

Result

product_id price
31165 1.69000000
31964 1.69000000
32790 1.69000000
52428 1.69000000
52435 1.69000000
73429 1.69000000
80787 1.69000000
88373 1.69000000
113408 1.69000000
118255 1.69000000