Petrol and diesel pump prices have slipped back down to levels seen before the latest Goods & Services Tax (GST) hike on Jan 1 despite rising global oil prices. The benchmark Brent crude last traded at US$86.56 a barrel, its highest since mid-November. Oil prices are...
Petrol and diesel pump prices have slipped back down to levels seen before the latest Goods & Services Tax hike on Jan 1 despite rising global oil prices.
But ironically, China is also seen as exporting more refined products, which can depress the wholesale prices of diesel and petrol here. According to market research firm S&P Global, the Chinese government has raised the export quota for its first batch of refined oil products for 2023 by 46 per cent.
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