# Oil firms may cut fuel prices on low demand | Business News

> Brent crude fell 6.95% to $78.89 a barrel on Friday, its lowest since October 1, on demand concerns from renewed COVID-19 cases in Europe. Indian state fuel retailers are reportedly considering small cuts to petrol and diesel prices. Domestic pump prices have been frozen since Nov. 4.

- Date: 2021-11-21 · published 2021-11-21T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/11829-oil-firms-may-cut-fuel-prices-on-low-demand-business-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Falling international crude on weaker demand expectations reduces energy input costs and may prompt retail fuel price cuts in India, though the effect on feed commodity prices is indirect.

## Read by commodity

- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2021-11-19 | 1 | -2.8% | -3.0 | Confirms Brent closed at $78.89, its lowest since Oct 1, on European COVID demand concerns, though the stated 6.95% figure is inconsistent with the 1-day move and the article is dated after it. |

## Sources

- hindustantimes.com: https://www.hindustantimes.com/business/oil-firms-may-cut-fuel-prices-on-low-demand-101637537731900.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.