{"id":506516,"date":"2022-07-18T12:05:00","date_gmt":"2022-07-18T06:35:00","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=506516"},"modified":"2022-07-18T12:05:00","modified_gmt":"2022-07-18T06:35:00","slug":"indias-crude-cost-slips-below-100-but-fuel-price-cut-unlikely","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indias-crude-cost-slips-below-100-but-fuel-price-cut-unlikely\/","title":{"rendered":"India\u2019s crude cost slips below $100 but fuel price cut unlikely"},"content":{"rendered":"<p>NEW DELHI: India\u2019s crude cost has slipped below $100 per barrel for the first time since April in step with this week\u2019s fall in benchmark rates. While it may appear to be a silver lining for the rupee, an immediate cut in fuel prices is unlikely as the Indian currency\u2019s record fall and a freeze on pump rates still keep retailers in the red.<br \/>\nData show the Indian Basket, or the mix of crude bought by Indian refiners, falling to $99.76 per barrel on July 14. The basket was last below $100 on April 25 when it stood at $99.17 a barrel.<br \/>\nThe fall comes as global prices dropped 5.5% over the week as recession fears overshadowed demand-supply mismatch concerns. But the market remains volatile, with benchmark Brent bouncing back above $100 on Friday as hopes of an early production increase by Saudi Arabia and UAE receded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: India\u2019s crude cost has slipped below $100 per barrel for the first time since April in step with this week\u2019s fall in benchmark rates. While it may appear to be a silver lining for the rupee, an immediate cut in fuel prices is unlikely as the Indian currency\u2019s record fall and a freeze on pump rates still keep retailers in the red. Data show the Indian Basket, or the mix of crude bought by Indian refiners, falling to $99.76 per barrel on July 14. The basket was last below $100 on April 25 when it stood at $99.17 [&hellip;]<\/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-506516","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\/506516","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=506516"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/506516\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=506516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=506516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=506516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}