Due to the fall in the price of crude oil, the rates of petrol and diesel in the country may drop by up to Rs 14 per litre, according to the various reports. Crude oil prices in the international market are at a low level since January.
Meanwhile, amid dip in the price of crude oil in the international market, the Indian oil companies have kept The petrol and diesel prices unchanged today for the 196th day in a row on Saturday i.e. December 3.
The last time petrol and diesel prices declined in the entire country was on May 22, a day after the Centre slashed the excise duty by Rs 8 per litre on petrol and Rs 6 per litre on diesel on May 21. This reduction in the excise duty brought the price of a litre of petrol and diesel down by Rs 9.5 and Rs 7, respectively.
Fuel Price Cut Prediction
In the wake of these developments, IIFL Securities director and veteran market expert Sanjiv Bhasin on Friday predicted that petrol and diesel rates could be slashed by at least Rs 5 on Monday.
“On Monday you could see at least Rs 5 cut in petrol and diesel prices because of a fall in crude,” he was quoted as saying by Zee Business.