Oil corporations to decide today on the possible price reduction of petrol & diesel!
Posted on: 31/Dec/2014 2:55:18 PM
With another fall recorded in the price of crude oil in the international market, there is an expectation whether the prices of petrol & diesel will be reduced further.
The monthly review meeting of the oil corporations is scheduled today, Wednesday, 31st December. A decision will be taken whether to reduce the diesel & petrol prices according to the international market trend.
The crude oil prices in the international market are reduced to $ 58 per barrel.
The prices of diesel & petrol will have to be reduced accordingly.
However, the value of Indian currency (Rupee) has depreciated leading to payment of higher prices while buying crude oil from the international market. This is estimated to cost an additional expense of Rs. 10,000 Crores to the oil corporations.
So, both these factors are to be considered while deciding about the price revision for petrol & diesel.
