Oil price crash: Domestic petrol, diesel prices may fall in the near future

Auto fuel prices may see a cut of another Rs 9-13 per litre over a fortnight if crude oil remains at same level

With international crude prices seeing one of the biggest single-day fall since the Gulf War in 1991 on Monday, domestic petrol and diesel prices are likely to decline in the near future. 

Based on the industry estimates, auto fuel prices may see a cut of another Rs 9-13 per litre over a fortnight if the global prices remain at the same level.

This is so because petrol and diesel prices are aligned to 15-day average of crude oil prices. For a $1 decline in a barrel of crude oil, prices of petrol and diesel, too, will see a drop of 50-55 paise