Oil Prices Fall to Pre-War Levels Amid Strait of Hormuz Recovery
Global crude oil prices have fallen to pre-war levels, leading to cuts in ATF and commercial LPG prices. This decline is attributed to the slow recovery of shipping in the Strait of Hormuz.
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Oil prices fall to pre-war levels as Strait of Hormuz shipping slowly recovers
Tanker traffic through Hormuz has begun to recover, though vessel movements remain well below pre-conflict levels
By Stuti Mishra
Read full article →ATF, commercial LPG prices cut as global crude cost eases
Commercial LPG and aviation fuel prices have seen a significant drop, with state-run companies cutting prices by Rs 183.5 and Rs 5 respectively. This easing follows a decline in global crude prices and the reopening of the Strait of Hormuz. However, domestic LPG and petrol/diesel prices remain unchanged, as oil companies continue to absorb losses from earlier elevated crude bookings. Airfare relief is also unlikely due to ongoing airspace issues.
By TNN
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