Another big decline is expected in petrol prices from January 15 as Petrol, diesel prices have significantly dropped in the international market on Sunday.
According to the report, the price of petrol per barrel in the global market decreased by $2.74, after which the price decreased from $69.27 to $66.54 per barrel.
The petrol premium also decreased by 13 cents per barrel, from $5.14 to $5.01.
The effects of this decrease were also seen at the domestic level. The customs duty on petrol per litre decreased by 72 paise, while the ex-refinery price decreased by Rs 6.51.
After a decrease of 68 paise in exchange adjustment, the ex-refinery price of petrol decreased from Rs 145.57 to Rs 139.06 per litre.
The price per barrel decreased by $2.33 to $73.99 from $76.32. After a reduction of 80 paise in customs duty per barrel on diesel and 35 paise in exchange adjustment, the ex-refinery price of diesel was recorded at Rs 149.99 per litre from Rs 155.33.
Experts say that fluctuations in the global oil market have a direct impact on domestic fuel prices, and this reduction is likely to provide some relief to consumers.
