With global crude oil prices softening, all eyes are on public sector oil marketing companies who are likely to review retail selling prices of diesel and petrol over the weekend.
Typically, public sector oil marketing companies review prices on the first and 15th of every month. However, with both diesel and petrol being deregulated, the decision is with the oil marketing companies.
"Now everything is deregulated. Wait and watch whether the companies pass of the benefit of the softer crude prices to consumers," said a senior Petroleum and Natural Gas Ministry official on Friday.