Crude oil prices in India are predicted to remain stable at $75-$80 per barrel over the next six months. Blended retail margins have risen to Rs 9/litre in Q3FY25, paving the way for probable adjustments in petrol and diesel prices. After substantial fluctuations caused by geopolitical tensions, a more balanced production approach by OPEC has contributed to this trend.
Recent trends indicate a potential stabilization in crude oil prices for India, expected to hover between $75 and $80 per barrel over the next six months. The increase in blended retail margins for petrol and diesel, which inflated to approximately Rs 9 per litre in Q3FY25 due to lower crude prices, supports a positive outlook for adjustments in fuel prices that have otherwise remained static.
This analysis stems from recent fluctuations in crude oil prices, influenced significantly by geopolitical events and global economic conditions. Crude prices surged post the Russia-Ukraine conflict in 2022 and saw another spike following the Israel-Hamas conflict in late 2023. OPEC’s decision against production cuts has contributed to a more stable pricing environment, allowing for potential adjustments in retail fuel prices.
In conclusion, the outlook for crude oil prices seems favorable for India, with expectations of relative stability at $75-$80 per barrel. This stability, combined with improved blended retail margins, may lead to potential price adjustments for petrol and diesel, reflecting a healthier market position as the global economic environment evolves.
Original Source: m.economictimes.com
