New Delhi: Petrol and diesel prices may decline soon after rising relentlessly for 15 days as international fuel rates retreat and Rupee strengthens. Crude oil went below $75 a barrel on Monday after touching $80 last week. Prices of petrol and diesel follow the directional trend shown by crude, and are already witnessing a decline in the international market.State oil companies factor in international fuel rates and currency movement to determine local prices of petrol and diesel. The output could be restored to the levels before the supply curbs were introduced, Russia’s energy minister Alexander Novak has said.Meanwhile, Rupee appreciation would further help bring down fuel prices in the country. On Monday, it was Rs 67.32 to a Dollar compared to Rs 68.35 on May 24.

Source: Economic Times May 28, 2018 17:48 UTC