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 $80 to 82 per barrel, levels during November (till November 25).
On Friday, November 26, prices fell by around $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 $6 to close at $72.91 a barrel at ICE London.
