Prospects of further price reduction petrol & diesel – as echo of fall in crude oil prices!!
Posted on: 25/Dec/2014 4:04:02 PM
News is doing rounds that there may be a New Year Gift for the vehicle owners/drivers this month-end by way of further reduction in diesel & petrol prices.
The price of crude oil went down by $2 yesterday. It was selling at $57 per barrel and came down to $55 per barrel.
The recent findings of more oil reserves in USA are cited as the main reason for this fall in prices of crude oil.
In India, the oil corporations decide the petrol & diesel prices as per the market fluctuations. Hence, there is hope for further reduction in petrol & diesel prices.
Since August, there has been a reduction in petrol prices of Rs. 12,27 per litre.
Currently, the prices of petrol & diesel in Chennai are Rs. 63.94 & Rs. 53.78 respectively.
