Relief At Last For Consumers

Domestic consumers of petrol and diesel can heave a sigh of relief with international crude oil prices plummeting to a seven-week low on Tuesday. Oil companies are hopeful that if the trend continues, they would not have to hike the domestic prices of the two auto fuels at the time of next revision due on November 1.

In fact, it is quite likely that the oil companies may have to go in for a downward revision of prices in case international prices of Brent continue to rule around $ 26 a barrel during the remaining period of this month.

The international prices of benchmark Brent crude, which were ruling around $28.34 a barrel on October 16, moved up to $28.61 a barrel the next day, only to return to the previous day