New Delhi, May 11 : Oil Marketers in the Country may begin to revise prices daily as was practiced Earlier. And this shall yet again bring about a hike in fuel cost also.
Globally too crude oil has prices have jumped more than 50% over last month’s price to levels of $30 per barrel currently. Notably since January crude prices have corrected by almost 50-60%.
Amid slumping demand due to lockdown and ailing oil prices globally, oil marketers stopped the daily revision of fuel prices. However, until and unless, the marketers are able to make up for the lost sales during the extended lockdown which saw a steep fall in demand of over 50%, the prices shall not be increased beyond a certain level.