Domestic fuel prices expected to fall as Covid surge dampens crude cost
NEW DELHI: The slide in global crude oil prices below $60 a barrel mark on Monday gave hope for a similar fall in domestic petroleum prices.
The fall in oil prices comes after a massive wave of Covid-19 infections continued to impact large parts of Europe. Resultantly, global fears have resurfaced on the slowdown in the economic recovery due to this wave.
At present, crude prices are reacting to the negative news flows. The Brent crude futures slipped below $60 a barrel on Monday. Similarly, the US crude traded lower. However, the surge in domestic Covid cases will weaken the rupee.
