Crude Oil price drops below $60

The price of crude oil has been dropped below $60 this week, it is the biggest drop since January this year. The international market is little volatile and the fall in the crude price is the biggest ever since January. However the price of the petrol and diesel back home increased by the UPA government.

Last year, the price of the crude touched the highest of $140 and more. It was anticipated that the price of the crude might reach to the mark of $200 per barrel. But the price of crude in the international market was dropped significantly. The decision of OPEC to check supply of crude price made the stabilized for few months.

Again the volatile price of crude in the international market would have impact on the prices of petrol and diesel in India. However, the price of petrol and diesel might change but the interest of the oil companies profit and loss will be taken into consideration.