Centre likely to bring down petrol, diesel prices ahead of 2024 Lok Sabha polls: Report
crude oil price which will lead to a fall in fuel prices in India. News18 reported that the Union Finance Ministry will likely cut the petrol and diesel prices by ₹10 soon. This came nearly two years after the Indian government had decided to decrease petrol and diesel prices by slashing by ₹8 and ₹6 respectively.
At present, the petrol and diesel prices in Delhi are ₹96.71 and ₹89.62 respectively, while the fuel is being sold at above ₹100 in cities like Bengaluru and Mumbai. In international markets, crude oil prices are being traded at $70 to $80 per barrel. The report stated that a proposal has been sent to the Prime Minister's Office in favor of cutting fuel prices across the country.
On Thursday, oil prices fell more than one percent as concerns eased about shipping disruptions along the Red Sea route, even as tensions in the Middle East continue to fester. Crude has risen about eight percent since its December low as Houthi attacks on vessels in the Red Sea forced tankers and other ships to divert on longer voyages, boosting costs. US WTI crude futures were trading 82 cents, or about 1.1 percent, lower at $73.29 a barrel, according to news agency Reuters.
Read more on livemint.com
