Amazing as it may seem, both experts and the laymen see in crashing global crude prices, an opportunity for the ruling party to make electoral gains. International oil prices, which have been going down since November, are finally reflecting in the fuel prices after a short time lag.
A recipe for New Year crude oil price weakness: Take 2 parts trade-war worries, 1 part each of quantitative tightening and fear of a slowdown in Chinese growth. Add a dollop of credit default concern and a generous pinch of European
Only Rs 34! This is price of 1 litre of petrol before tax, dealer commission; check what govt told Lok Sabha
Amid the uproar over high petrol and diesel prices even as the international crude oil prices have remained much lower due to high excise duty, the government has told the Parliament that the price of one litre of petrol is only Rs 34
Oil prices have crashed more than 30 percent since hitting a four-year high of almost $87 a barrel in early October. Worries over glut gripped the market and concerns over global economic growth made sentiment turn negative.
Oil prices climbed on Monday after U.S. drilling activity fell to its lowest level in about two months, but increasing concerns about weaker growth in major economies kept a lid on gains. International Brent crude oil
The decline in global crude oil prices is expected to continue, which will have a moderating impact on inflation, a report said.
Fuel Prices Slashed For 13th Consecutive Day; Petrol Reaches Rs 79.55/ltr In Delhi, Diesel Down To Rs 73.78
Strengthening rupee and weakening global crude oil prices have once again brought respite to daily commuters in India. Fuel pries have been slashed for 13th consecutive day today.
Despite the government’s recent measures to contain the rupee’s fall, the Indian currency remains on a weak footing. In the last one month, the rupee has depreciated by around 14% against the dollar and is among Asia’s worst-performing currencies.
Crude oil prices need to drop by $5 a barrel for petrol and diesel prices to revert to the August 1 level as the rupee exchange rate is expected to hover around the current level of 72 against the greenback, oil company executives and forex dealers said.
As crude oil prices continue to remain at elevated levels, a recent notification by the government to undertake an inconspicuous change in the definition of petroleum have brought in the much-needed regulatory boost to the exploration of shale gas.