India's gasoline and diesel unchanged despite Brent 4-month low
Gasoline and diesel prices didn't budge on Friday, even though Brent crude oil just dropped to its lowest point in four months thanks to calmer global tensions.
According to Petroleum Minister Hardeep Singh Puri, Indian oil marketing companies (OMCs) are still using pricier crude bought during the West Asia crisis, so any price cuts might take a little longer.
OMCs cut aviation fuel and LPG
Earlier this week, OMCs slashed aviation fuel by about ₹5 per liter and cut commercial LPG rates by ₹183.50, the first drop in almost four months. Free Trade LPG cylinders also got cheaper.
Private player Nayara Energy became the first in over two years to lower gasoline and diesel pump rates.
If global crude stays low, more price adjustments could be on the way as refiners update their stocks.