Petrol and diesel prices are in the spotlight today as crude oil prices continue to fluctuate. Recently, the July delivery contract for crude oil saw a decline of Rs 104, or 1.49%, dropping to Rs 6,869 per barrel. Currently, global crude oil prices are between $82 and $85 per barrel. But how does this affect petrol and diesel prices? Have fuel rates decreased as a result?
Check fuel Prices across verticals:-
Crude Oil Price Trends
On Friday, crude oil futures prices fell by 1.49% to Rs 6,869 per barrel. This drop occurred as traders adjusted their positions due to weaker demand in the spot market. The July delivery contract decreased by Rs 104, with 4,210 lots traded on the Multi Commodity Exchange. Internationally, West Texas Intermediate crude oil fell by 0.86% to $82.11 per barrel, while Brent crude declined by 0.66% to $84.55 per barrel.
Recent Price Changes
On March 15, the government implemented a notable reduction in petrol and diesel prices by Rs 2 per liter, influenced by the Lok Sabha elections. With the elections concluded, it remains to be seen how long these lower prices will be maintained.
Fuel Pricing by Oil Companies
In India, oil marketing companies such as Hindustan Petroleum Corporation and Indian Oil Corporation provide the latest updates on petrol and diesel prices. Consumers can easily access these updated prices through the companies' websites.
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