Close Menu
  • Home
  • News & Updates
  • Startup Stories
  • Funding News
  • CEO Story
  • Interviews
  • Magazine
Facebook X (Twitter) Instagram
StartUp InsiderStartUp Insider
  • Home
  • News & Updates
  • Startup Stories
  • Funding News
  • CEO Story
  • Interviews
  • Magazine
StartUp InsiderStartUp Insider
Home - News & Updates - Fuel Prices Fall as Crude Down by Rs.2 Further
News & Updates

Fuel Prices Fall as Crude Down by Rs.2 Further

Shrija MishraBy Shrija Mishra24/03/20211 Comment2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
crude
Share
Facebook Twitter LinkedIn Pinterest Email

New Delhi: With a further downward trajectory in crude oil prices, we can see the prices of fuel going down by Rs. 2 in the next few days. This has brought relief to the furious customers regarding such a sky shoot in the prices of petrol and diesel. The readers should note that the prices will only fall further if rupees don’t lose it’s value any further against the Dollar and keep the same path.

The price of crude in India has dropped significantly from $68 per barrel to 65$ on Tuesday, which makes up the market decline of 5%. From March, it has declined to 10% as it cost 70$ per barrel back then.

With more than a 4% further drop, this Tuesday embarked for further downfall in the crude prices, which brought some relief to the customers. Readers should note that the oil-suppliers and pump owners set up their fuel prices on a 15-day average set up by the crude price change.

Oil companies like Indian Oil have reported that they have been losing Rs.4 on petrol and Rs.2 on diesel since February 28th as they remained. At the same time, the crude oil prices remained to rise continually till March 8th. 62$ will be the price of crude expected by the pump owners in the current scenario. Also, let us not forget that the government levied Rs.13 excise duty on petrol the last year.

crude

The central government had raised an excise duty of Rs.13 on petrol the last year, and Rs. 16 on diesel consecutively on March 16th, 2020, and May 5th, 2020. Its main motive was to tackle the very less demand for fuel due to the COVID-19 outbreak, which forced people to stay at home and imposed several travel restrictions. The pandemic forced the prices of crude to drop as low as $20 per barrel.

Read more: Can Koo Replace Twitter in India Anytime Soon?

The price of petrol in Delhi stands at Rs 91.17 per litre, and diesel is available at Rs 81.47. In Mumbai, petrol is also sold at Rs 97.57, while diesel costs Rs 88.60, details available on the Indian Oil Corporation website are shown.

business news crude startup insider startup news
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Shrija Mishra

Related Posts

10 Common Credit Card Mistakes and How to Avoid Them?

16/02/2024

How to manage your debts effectively with a Personal Loan?

17/01/2024

Startup Efforts: Promoting Sustainability In The World Of Business

26/10/2023

According to a report, Tata Group may explore investing $1 billion in a super app business

21/10/2023
What's Hot

A Fair Car Accident Settlement Includes These 6 Losses

29/04/2025

NUOS: Innovating Smart Home Automation with Touch and Intelligence

16/04/2025

Outsourcing on a Budget: How Small Businesses Can Negotiate Cost-Effective Contracts

15/04/2025
Follow Us on Google News


Tech magazine

Subscribe to Updates

Get the latest Business news from StartUp Insider about startup stories, funding news, CEO stories.

Welcome to StartupInsider, your go-to source for the latest news, insights, and analysis on startups and businesses in india. We are dedicated to providing you with accurate and up-to-date information that can help you navigate the ever-evolving landscape of entrepreneurship.

Content Us : media@startupinsider.in

Facebook X (Twitter) Instagram Pinterest YouTube Tumblr LinkedIn
Editors Picks

Mangal Paper Pvt. Ltd. (Mangal Group) Sets Industry Benchmark with Exceptional Sales Achievement

10/05/2024

Fueling the Future: Chennai based AI EdTech Startup KambGeeks Raises Pre-Seed Funding

30/04/2024

VedaOils – Emerging Brand In The Essential Oils Industries

04/04/2024

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

© 2025 StartUp Insider.
  • Home
  • About Us
  • Terms of Use
  • Privacy
  • Contact Us
  • Disclaimer

Type above and press Enter to search. Press Esc to cancel.