NEW DELHI: Petrol and diesel prices will be reduced only if the current drop in international oil prices is sustained for a few more days, as domestic retail prices are fixed on a 15-day rolling average, official sources said.
Global benchmark Brent crude oil prices remained largely range-bound at around $80 to 82 per barrel, levels during November (till November 25).
On Friday, November 26, prices fell by around $4 per barrel till Asian timestamp. However, subsequently after the opening of the US market, with the drastic sell off in Brent Futures, prices fell further by around $6 to close at $72.91 a barrel at ICE London.
Sources said this seems like a knee-jerk reaction from fears that the new COVID-19 variant discovered in Southern Africa might dampen economic growth and trigger another demand slump.
State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise petrol and diesel prices on a daily basis.
هذه القصة مأخوذة من طبعة November 29, 2021 من Millennium Post Delhi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة November 29, 2021 من Millennium Post Delhi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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