Crude oil prices in the international market have dropped from $80 to $76 per barrel, but petrol and diesel prices in India remain stable. AAP has demanded a price cut.
Amid renewed military tension between the US and Iran in the Middle East, a softening is being seen in crude oil prices in the international market. On Friday, the price of Brent crude registered a fall of more than 2 percent, bringing it to a level of about $76 per barrel.
Earlier on July 8, Brent crude had reached $80 per barrel, but the current level is significantly lower than that.
According to data from 8 AM on Friday, Brent crude was trading at $76.46 per barrel, up 0.17%. Meanwhile, US WTI crude was trading at $72.26 per barrel, up 0.28%.
Despite the softening of crude oil prices for the past two weeks, the general public in India has not received any relief in petrol and diesel prices. Fuel prices across the country remain stable as before.
The main reason for this is that retail fuel prices in the country are determined by state-owned Oil Marketing Companies (OMCs). These companies last changed prices on May 25, and rates have been stable since then.
On July 10, the prices of petrol and diesel in some of the country's major cities are as follows:
Aam Aadmi Party (AAP) National Convener Arvind Kejriwal has demanded that the central government reduce the prices of petrol and diesel. He said that a price reduction would impact inflation and provide great relief to the common people.
Kejriwal says that pure petrol in the country should be available for about ₹82 per liter. He also claimed that if E-20 fuel is used, its price could be around ₹70 per liter, whereas it is currently being sold for around ₹102 per liter.
He said that diesel prices could be similarly reduced, which would help in controlling inflation.
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