Crude oil prices are gaining momentum in the international market. Petrol and diesel prices remain stable for the sixth day in the domestic market today (Friday, July 23, 2021). Experts say that if crude oil continues to fall, domestic oil companies will also start reducing the price of petrol and diesel.

However, fuel prices are still at record highs across the country. Petrol price is still above Rs 100 per litre in several districts of 17 States and Union Territories. Petrol prices have increased a total of 9 times in the month of July so far. However, diesel has become costlier 5 times and cheaper once. Earlier, petrol and diesel prices had increased 16-16 times in the months of June and May also.

In fact, the international market is currently witnessing a fall in crude oil prices. But the rupee is also showing weakness against the dollar. That is why state-owned oil companies have kept fuel prices stable. He has not decided to evade it so far. However, experts also say that if the price of crude oil continues to be consistent, the price of petrol and diesel in the domestic market may also come down by Rs 2 per litre. In the Lok Sabha this week, the government said that tax collection through petrol and diesel increased by 88 per cent to 3.35 lakh crores.

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