Dip in price of crude oil unlike past 4 years resonates in Indian petrol price
Posted on: 12/Nov/2014 12:28:30 PM
Price of crude oil has faced a dip unlike past four years. As per rates this morning, one barrel of crude oil is reduced by $81.23. To note, this price is lesser than the value prevailed during October 2010.
The reason for such a dip in price of crude oil is told to be the surge in value of American dollar and production of shale gas in America. Following the huge reduction in rate of crude oil, India is likely to see a dip in price of petrol and diesel. An official announcement about this issue will be made on 15th of this month.
Recollecting the recent dip in petrol rates in our country, it happened on 31st of last month where petrol was reduced in price by Rs 2.41 and diesel by Rs 2.25.
