Oil prices decline by 18%, boosting India's CAD in election season

Iran breather brings down retail prices by 4-5%

When  Brent prices crossed $80.91 a barrel on October 15, India was staring at even higher crude oil prices. Within a month, the prices have come down by almost 18 per cent, giving relief to the domestic fuel market and hopes of softening of the current account deficit (CAD).

Following the drop in international crude prices, the price of petrol in Delhi dropped by 5.3 per cent from Rs 81.63 a litre a month ago to Rs 77.28 a litre on Thursday. With election season on, this is good news for the government, which received flak from various quarters over increase