NEW DELHI: Crude oil prices have recorded a drop in international markets against the backdrop of the Biden administration preparing to take action in the United States to control inflation. Following this, fuel prices are expected to fall in the Indian market as well.

The price of Brent Crude, on which India relies heavily, fell by 6 percent. Crude prices have come down to $ 108 by dropping more than six dollars a barrel. On June 8, the price of a barrel of oil stood at $ 123. It is reported that the Joe Biden government will take action to address the recent high inflation in the United States.

The fall in oil prices in the international market may be reflected in India as well. The central government had recently reduced taxes on petrol and diesel to curb inflation.