New Delhi: Oil prices rose to its lowest on Friday from mid -2021 as China’s return fire spread against the mutual tariffs of US President Donald Trump, spreading the Center to the state -operated fuel retailers with the state -run fuel retailers to reduce the partial impact to reduce the pump rates.
The benchmark brent slipped at $ 64.59 after $ 5.55 per barrel, or about 7.9%, $ 64.15 intraday. The US WTI crude lost $ 5.87, or 8.8%, $ 61 after touching $ 60.81 per barrel, the Reuters reported.
OPEC extended the oil crisis even after OPEC gathered in a hurry to hurry to make a hurry to take a hurry to make a hurry, even a business war and recession clouds. Goldman Sachs became the latest investment banks this year to reduce the forecast for Brent, citing the apprehensions from 5.5% to $ 69 per barrel.
The projection gives a window to cut fuel prices, which will help reduce the impact of inflation of American tariffs on India. Oil Minister Hardeep Puri agreed last week’s expectations Fuel price cut There were “appropriate”. Puri said, “I can seriously tell you if the audience asks when and when the fuel prices will decrease, I would say if this trend (low oil prices) continue, then appropriate hope (cutting fuel price),” Times now stated the summit in 2025.
The cheap fuel will reduce energy costs for the economy and allow the domestic budget to breathe. Since India meets 85% of its oil requirement through imports, sub -price prices will reduce the import bill and current account deficit. This will provide support to the rupee and the headroom for social expenses to continue.
Oil prices are decreasing after April last year, except in brief rallies in June and September 2024. But fuel prices have been finalized on March 14, 2024 on March 2, 2024, as they are fine from the Lok Sabha elections.
Earlier, prices were frozen since May 22, 2022, when the Center reduced excise duty for the second time since November 4, 2021. Both cuts brought down the total duty of Rs 13 per liter on petrol and diesel simultaneously.
