Fuel Oil Sees Sharp Price Cut After Crude Dropped To 1-Year Low

Fuel oil prices are now trending lower in price in comparison to August price as the crude oil refuses to come out of the bearish market due to over-supply concerns.

A litre of petrol today costs Rs 75.57 in Delhi, Rs 81.10 in Mumbai, Rs 76.17 in Bengaluru, Rs 78.46 in Chennai, Rs 77.53 in Kolkata and Rs 80.12 in Hyderabad.Diesel costs Rs 70.56 in Delhi, Rs 73.91 in Mumbai, Rs 70.93 in Bengaluru, Rs 74.55 in Chennai, Rs 72.41 in Kolkata and Rs 76.77 in Hyderabad

It is to be noted that losses in international crude oil price has given no triggers for the state oil marketers to raise rates in more than a month now.

There is also another factor that has bring some relief to fuel oil consumers and that is the recent sharp appreciation in the value of rupee against the dollar.

On October 4, petrol and diesel prices scaled to new peaks. But the recent decline of 30% will now being checked upon by the likely supply cut announcement by OPEC.

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