New Delhi, Sep 26: Healthy marketing margins on auto fuels could spur price reductions of Rs 2-3 per litre in petrol and diesel prices in the country if crude prices remain stable, leading rating agency ICRA said on Thursday.
According to ICRA, the retail selling price (RSPs) of these fuels have been unchanged since March 2024 (Rs 2/litre was reduced on petrol and diesel on March 15) and there appears to be headroom for their downward revision by Rs 2-3/litre, if crude prices remain stable, he added.
Crude prices have witnessed a sharp decline in the last few months, primarily due to weak global economic growth and high US production and the OPEC+ has pushed the rollback of its production cuts by two months to combat the declining prices.
The impact is mainly on account of weak demand from China due to rising electric vehicle (EV) sales, muted industry demand and real estate downturn.
