After steep increase for months, the fuel prices have slowly begun to settle down. With Petrol being sold at ₹86.91 in Mumbai, it noticed a decrease in its price by 30 paise, while Diesel is being sold at ₹78.54 with a decrease in its price by 28 paise.
The decrease in fuel prices has been consistent for five days now. With the falling price of crude oil and recovery of rupee depreciation against the dollar, the petroleum prices in India are decreasing.
The price for crude oil on Monday was noted as $79.74 per barrel while the price was $85 per barrel at the start of October. Oil Companies are expected to set fuel prices in accordance with the fluctuation of crude oil price and currency exchange rate.
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