Petrol, diesel prices may soften by month-end as Brent stabilises

But prices may remain uncomfortably high for most consumers

Petrol and diesel prices are expected to soften from their record highs towards the end of July, but they will remain out of the comfort zone for most consumers. This is because Brent crude oil prices are stabilising around $75 a barrel, down from highs of $77 a barrel earlier this month.

The retail selling price of petroleum products in India is linked to global product markers. They, therefore, do not exactly reflect crude oil markers, though the trajectory products and crude oil follow is largely the same. 

Brent, the most popular marker for crude oil, traded at around $74