As the festive season of Dussehra and Diwali is nearing, consumers can feel relieved because oil marketing companies plan to reduce the petrol and diesel prices.
Yes, oil sector experts in a media report stated that auto fuel consumers in India could be enjoying a decrease in retail price of petrol and diesel.
As of now, crude prices all over the globe are holding close to $ 42 a barrel. For over a month, the price has been closing between $ 40-42 a barrel.
However, as there is lower oil demand and rising inventory, oil marketing companies are keeping a hold on the retail price of petrol and diesel for more than a month now.
Price of petrol in Delhi was at Rs 81.06 per litre. In Mumbai, Chennai and Kolkata, the fuel was sold for Rs 87.74, Rs 84.14 and Rs 82.59 per litre, respectively.
Diesel prices in Delhi, Mumbai, Chennai and Kolkata were at Rs 70.46, Rs 76.86, Rs 75.95 and Rs 73.99, respectively.
However, it is believed that domestic oil companies would be planning to bring the retail price in a downward trend as there would be increased demand in the transport activities before the festival season and also as lockdown restrictions are being eased more.
By Sahana Iyer