NEW DELHI: Galloping fuel prices may have hit the end of the line for the time being as global oil prices dropping below $100 per barrel has eased the pressure on fuel retailers by shrinking under-recoveries, sources told TOI.
\n“There was a threshold (for increase in the prices), based on the assumption of a certain (oil) price point. Whatever had to be done has been done. At current levels of reference (crude) rates, I don’t see more hikes. At least not in a sharp upward curve. The market remains volatile and the dollar is getting stronger. Nobody knows where crude will be headed,” a senior executive of one oil marketing company familiar with the matter said.
\nThe signs are already there. Petrol and diesel prices have not been revised since April 7 after India’s crude cost slid to $97.59 per barrel on April 7, a 24% drop from $128-plus reached in mid-March. Fuel prices were last raised by 80 paise per litre on April 6, marking the 14th increase in 16 days that made motor fuels costlier by Rs 10 a litre.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Galloping fuel prices may have hit the end of the line for the time being as global oil prices dropping below $100 per barrel has eased the pressure on fuel retailers by shrinking under-recoveries, sources told TOI. “There was a threshold (for increase in the prices), based on the assumption of a certain (oil) price point. Whatever had to be done has been done. At current levels of reference (crude) rates, I don’t see more hikes. At least not in a sharp upward curve. The market remains volatile and the dollar is getting stronger. Nobody knows where crude […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-483555","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/483555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=483555"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/483555\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=483555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=483555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=483555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}