MCX Crude Oil Trend For Today

After declaration of the cut in petrol prices by state-run oil companies will have negligible or marginal impact on the country's economy, but it will not help to recover from the industry our experts observe. Bringing down fuel prices is always a good decision but this time it don't have the long term policy. It is just the rupee is depreciating against the dollar. However, Indian Oil Corp (IOC), the largest of the three state-run oil marketing companies, stated that a fall in global crude prices and the rupee remaining stable at 49.30 to a US dollar were the reasons for the cut in petrol prices in domestic market.