Petrol Diesel Prices Likely To Drop By Rs 14 Per Litre

There is some good news for the people. The prices of petrol and diesel in the country may come down by up to Rs 14.

Written by: Tahir Qureshi

Updated: November 30, 2022, 4:07 PM IST

https://www.india.com/business/petrol-diesel-prices-to-drop-fuel-crude-oil-today-november-30-5773262/

Petrol, Diesel, Fuel prices, crude oil, Brent, SMC Global, petrol price, diesel price

Fuel prices: There is some good news for the people. The prices of petrol and diesel in the country may come down by up to Rs 14. This is because of the fall in the price of crude oil. Crude oil (Brent) prices in the international market are at a low level since January. It has now come down to $81 while the US crude is close to $74 per barrel.

PETROL, DIESEL PRICES MAY COME DOWN FOR FIRST TIME SINCE MAY

In particular, the significant drop in crude oil prices has brought down the average crude oil price (Indian basket) for Indian refineries to $82 per barrel. It was $112.8 in March. According to this, in 8 months, the price of crude oil for the refining companies has decreased by $31 (27%).

According to SMC Global, the country’s oil companies save 45 paise per liter on refining for every $1 fall in crude. Accordingly, the reduction in the price of petrol-diesel will be Rs.14 per litre. However, according to experts, the entire reduction will not happen in one go.