India's Fuel Prices Remain Steady Amid Easing Brent Crude
Petrol and diesel prices in India remained largely stable on July 30 amid easing Brent crude prices. The global benchmark Brent crude prices declined by close to one per cent to trade at around $87.30 a barrel as of 0015 GMT, according to Reuters.
US West Texas Intermediate (WTI) crude slipped 76 cents, or 0.9%, to $83.70 a barrel. Indian consumers are largely shielded from fluctuations in global fuel prices, as retail petrol and diesel rates are determined by state-owned oil marketing companies (OMCs).
The latest strikes on Tehran by the US military in retaliation for Iran's attack on American forces in the Middle East heightened the risk of the conflict escalating into a full-scale war. The development came after US President Donald Trump vowed that the US would hit Iran 'very hard'.