Why we need to pray for $5 crude oil price dip

“Weakening of the rupee has built in about Rs 2.50 into the (fuel) prices. Crude prices have been range-bound, swinging up and down by $1-3 since August 1. Going by the forex market outlook, the only way fuel prices can return to their August 1 level is for crude prices to fall by $5 a barrel or so at current exchange rate,” said an executive.

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