Crude Oil Price Falls While Rates Of Petrol, Diesel Remains Unchanged

International crude oil prices have been declining for the past few days. Despite this, the rates of petrol and diesel rates remain at the same level. In all other states except Maharashtra, the rate of petrol and diesel was changed three months ago. At that time, the central government had given a relief to the people by reducing the excise duty on the price of oil.

The rate of crude oil has fallen below USD 100 per barrel. On Monday morning, the price of WTI crude fell to USD 89.65 per barrel. At the same time, Brent crude was seen falling at USD 95.52 per barrel. In the beginning of July, the Shinde government of Maharashtra also gave relief to the people of the state by reducing Rs 5 on petrol and Rs 3 on diesel.

Earlier on May 22, the Modi government at the Center had cut excise duty. After this move of the government, petrol became cheaper by Rs 8 and diesel by Rs 6. Soon after this, some state governments also reduced VAT.