Fuel price cut hopes rise as crude oil prices drop to lowest since January

A huge drop in crude oil prices have rekindled hopes in India of a possible reduction in fuel prices.

Benchmark Brent crude fell to its lowest since January on Monday, with prices dropping $2.6/barrel, or more than 3%, to $80.97. Apprehension over another production cut by the Opec+ grouping of oil exporters, including Russia, has contributed to the sharp fall.