Why falling global oil prices won't lower petrol, diesel prices in India - Explanation2 min read . Updated: 19 Mar 2023, 02:28 PM IST
The ongoing fear of banking crisis that erupted out of consecutive banking turmoil also resulted in the drop in global crude oil prices. However, the falling global oil prices are hardly going to impact India as companies will not reduce petrol and diesel price to recover their earlier losses
Regardless of falling global oil prices due to banking turmoil in the US, there is hardly any chance of a fall in petrol and diesel prices in India. It would take longer for the oil marketing companies to recover their losses accumulated due to high crude prices earlier.
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