Oil prices have fallen to their lowest level since January, improving the profitability of fuel marketing companies and potentially allowing for pump rate reductions ahead of the Maharashtra and Haryana state elections. This decline is attributed to concerns over demand growth in China and increased supply from Libya and other sources.
source https://timesofindia.indiatimes.com/business/india-business/oil-prices-lowest-since-january-make-case-for-fuel-price-cut/articleshow/113072236.cms
source https://timesofindia.indiatimes.com/business/india-business/oil-prices-lowest-since-january-make-case-for-fuel-price-cut/articleshow/113072236.cms