The international crude oil market is about to see a major change. The price of Brent crude oil has been falling and has now reached $65 per barrel, the lowest in the last four years. But why has the price dropped so suddenly? There are several international reasons behind this change. The biggest question now is whether this price drop will affect the pockets of Indian citizens directly. Read the report to find out more.

Why Did Oil Prices Fall?

According to several sources, there are two main reasons for the fall in oil prices. First, former US President Donald Trump’s tariff policy has created uncertainty in global trade. Second, the decision to expand the membership of OPEC countries has caused an oversupply of oil in the market. As a result, prices are dropping day by day. Sources say Brent crude oil prices haven’t been this low since mid-2021.

What Could Be the Impact on India?

India is one of the biggest oil importers in the world. So, a drop in global oil prices can reduce economic pressure on the country. Lower import costs can help bring inflation under control. Overall, this is good news for the Indian economy. But the question remains—will this benefit reach the common people?

Will Petrol and Diesel Prices Drop?

Even though global oil prices are falling, fuel prices in India may not go down soon. For example, in Kolkata, petrol costs ₹105.01 per litre, and diesel is ₹91.82 per litre. In 2021, when crude oil prices were similarly low, petrol was ₹95.41, and diesel was ₹88.01.

Experts say domestic fuel prices remain high due to increased production, transport costs, and heavy taxes. So, even with cheaper crude oil, Indian fuel prices might not drop.

What Do Experts Say?

Anuj Gupta from HDFC Securities said, “Trump’s tariff policy has created big uncertainty in the global market. Prices may fall further and could even reach $60.”

Prosenjit Sen from the Petroleum Dealers Association said, “Oil prices should be reduced now. It would directly benefit us dealers.”

What About the Future?

The fall in global oil prices is a positive sign for India. But it’s still uncertain when this benefit will reach the common man. Future petrol and diesel prices will depend on the government’s tax policy and oil companies’ profit margins. For now, all we can do is wait and watch.