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 (
    118790, 118789, 118788, 118787, 118786, 
    118785, 118784, 118783, 118782, 118781, 
    118780, 118779, 118778, 118777, 118776, 
    118775, 118774, 118773, 118772, 118771, 
    118770, 118769, 118768
  ) 
  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 0.00055

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 46 Using where

Result

product_id price
118768 1.69000000
118769 1.69000000
118770 1.69000000
118771 1.69000000
118772 1.69000000
118773 1.69000000
118774 1.69000000
118775 1.69000000
118776 1.69000000
118777 1.69000000
118778 1.69000000
118779 1.69000000
118780 1.69000000
118781 1.69000000
118782 1.69000000
118783 1.69000000
118784 1.69000000
118785 1.69000000
118786 1.69000000
118787 1.69000000
118788 1.69000000
118789 1.69000000
118790 1.69000000