NEW DELHI: As Indian consumers benefited from the sharp fall in global oil prices, state-owned oil companies gained six benefits from polls in Jharkhand, Jammu and Kashmir Seventh victory since October Also seventh victory since October 18 Third since diesel restriction day was relaxed. Reduction in petrol rates.

Industry experts have predicted that retail prices of petrol and diesel at Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) could be reduced by around one liter per liter by the end of the year if the current trend continues. That year. Rs 1 this week. For consumers, both fuels are 10 to 13 percent cheaper than their peaks earlier this year.

Fuel prices are reviewed at the beginning and middle of each month and adjusted according to global trends. November 15 is just 10 days from the start of legislative elections in two states Gosh, the prices are likely to go down.

Official sources said the price cuts could be even greater if international motor fuel prices fall further in the next four days. The government has allowed state-owned fuel retailers to align retail prices of gasoline and diesel with international markets. Benchmark Brent crude oil fell to an 82-year low of dollars per barrel on Tuesday.

“International gasoline and diesel prices have fallen between $11 and $3 since October 31 since the last price hike. Prices are likely to fall by Saturday and the company will review retail prices on a weekly basis.” The daily average prices of diesel and petrol and the rupee-dollar exchange rate determine the landing cost of imported fuel.” An industry official said.

On October 31, oil companies reduced petrol prices by Rs 2.41 per liter and diesel prices by Rs 2.25 per liter. So far, the companies have raised prices six times in a row, reducing petrol prices by 13 percent or Rs 9.36 per liter. Diesel prices have been reduced by around 10 percent, or Rs 5.62 per liter, in just two revisions since October 18 since the fuel price control day was relaxed. The current price of petrol in Delhi is Rs 64.24 per liter and diesel is Rs 53.35 per liter. The company has also projected that the revenue loss due to cooking gas will be slightly reduced to around Rs 394 per 14.2 kg cylinder.

The government has relaxed diesel price rules since last month of 2010. Since January, companies are free to decide on petrol prices. However, this freedom is not absolute and companies have to get the tacit approval of the petroleum department to change the retail prices of petrol and diesel. The sources said.

Due to political reasons, the government is likely to be unable to pass on all price discounts to consumers. The international oil market is highly volatile and a cushion is needed to absorb the price impact, especially if interest rates rise in the month-long assembly elections, the sources said. The five-phase polling in Jharkhand and Johnson will begin on November 25 and last for nearly a month. The results of the two Assembly elections will be announced on December 29th.

NEW DELHI: With Indian consumers recovering from a global consumption slump, state-run oil companies plan to cut petrol rates for the seventh cut in gasoline rates, and diesel rates have fallen since fuel restrictions were lifted October 18th. We are planning a third cut. benefiting from 2019. Oil prices fall ahead of annual elections. Jharkhand, Jammu and Kashmir.

Based on the current trend, Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) retail prices of petrol are likely to come down and diesel prices are expected to go up by around Rs 1 per liter, industry experts said. It’s the end of the year. This week. For consumers, both fuels are 10 to 13 percent cheaper than their peaks earlier this year.

Fuel prices are reviewed at the beginning and middle of each month and adjusted for global trends. November 15 is just 10 days before the start of legislative elections in two states, and by golly, prices could go down.

Official sources said the price cuts could be even greater if international motor fuel prices fall further in the next four days. The government has allowed state-owned fuel retailers to align retail prices of gasoline and diesel with international markets. Benchmark Brent crude fell to an 82-year low of dollars per barrel on Tuesday.

“International gasoline and diesel prices have fallen between $11 and $3 since October 31 since the last price hike. Prices are likely to fall by Saturday and the company will review retail prices on a weekly basis.” The daily average prices of diesel and petrol and the rupee-dollar exchange rate determine the landing cost of imported fuel.” An industry official said.

On October 31, oil companies reduced petrol prices by Rs 2.41 per liter and diesel prices by Rs 2.25 per liter. So far, the companies have raised prices six times in a row, reducing petrol prices by 13 percent or Rs 9.36 per liter. Diesel prices have been reduced by around 10%, or Rs 5.62 per liter, in just two revisions since October 18 since the fuel price control day was relaxed. The current price of petrol in Delhi is Rs 64.24 per liter and diesel is Rs 53.35 per liter. The company has also projected that the revenue loss due to cooking gas will be slightly reduced to around Rs 394 per 14.2 kg cylinder.

The government has relaxed diesel price rules since last month of 2010. Since January, companies are free to decide on petrol prices. However, this freedom is not absolute and companies have to get the tacit approval of the petroleum department to change the retail prices of petrol and diesel. The sources said.

The government is likely to be unable to pass on all price discounts to consumers due to political reasons. The international oil market is highly volatile and a cushion is needed to absorb the price impact, especially if interest rates rise in the month-long assembly elections, the sources said. The five-phase polling in Jharkhand and Johnson will begin on November 25 and last for nearly a month. The results of the two Assembly elections will be announced on December 29th.