Petrol and diesel prices will be reduced only if the current drop in international oil prices is sustained for a few more days, as domestic retail prices are fixed on a 15-day rolling average, official sources said.
Global benchmark Brent crude oil prices remained largely range bound at around USD 80 to 82 per barrel, levels during November (till November 25).
On Friday, November 26, prices fell by around USD 4 per barrel till Asian timestamp. However, subsequently after the opening of the US market, with the drastic sell off in Brent Futures, prices fell further by around USD 6 to close at USD 72.91 a barrel at ICE London.
