The international market has been witnessing a decline in the price of crude oil for the past few days. Brent oil prices had crossed $130 a barrel in the second week of March, and have now dropped sharply to $100 a barrel. With the softening of crude oil prices, the possibility of a rise in petrol-diesel prices in the Indian market has been reduced to a great extent.

Indian oil companies have not seen any change in the price of auto fuel petrol and diesel even today (Monday), March 21. At the same time, the fall in crude oil prices in the international market has reduced the margin pressure on retail oil companies. Due to this, the chances of getting relief on the price of petrol and diesel have increased even more. Not only this, Indian oil companies have not increased the prices of petrol and diesel from November 2021, i.e. Diwali, last year, even after a record increase in the price of crude oil. 

Diesel costlier for bulk consumers: Diesel prices have been hiked by Rs 25 per litre for bulk consumers. However, there has been no change in the retail prices of diesel sold to the public at petrol pumps,  according to reports that Russia had invaded Ukraine on February 24 and then the price of crude oil at the international level had reached $130, but before Holi, the price of crude oil has again fallen to $100. Since Diwali, i.e. from November 2021, the prices of petrol and diesel have been stable in the country.

Oil prices are updated daily: The price of petrol and diesel is updated daily based on the price of crude oil in the international market. Oil marketing companies decide the price of petrol and diesel daily after reviewing the prices. Indian Oil, Bharat Petroleum and Hindustan Petroleum oil companies update the price information of petrol and diesel of different cities every morning. However, prices in India have remained stable since November.

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18 and 19 March is two days Holi, know the bank holiday in your state