There is a big relief news for the common people troubled by the ever-increasing inflation in the country. There has been a sudden drop in the prices of edible oil, especially mustard oil. While mustard oil was being sold for up to ₹ 210 per liter some time ago, now it is available for less than ₹ 100, especially due to heavy discounts on online platforms.
The main reason for the recent fall in mustard oil prices is the slowdown in global markets. A fall of 2.25% in Malaysia Exchange and 1.5% in Chicago Exchange has pushed down oil prices internationally. Due to this, the price of mustard seeds in the domestic market has come down by ₹ 100 to ₹ 7,515–₹ 7,565 per quintal, while the wholesale price of mustard oil closed at ₹ 15,050 per quintal with a fall of ₹ 250.
The rates of refined and crude oil have also dropped by ₹40–₹40 to ₹2,365–₹2,445 and ₹2,405–₹2,515 per tin (15 kg), respectively. Consumers are benefiting from this drop through online shopping, where discounts ranging from 40% to 80% are available. More than 70% of people in the country are now shopping online, and attractive offers are also available on branded oils like Fortune and Dhara. In such a situation, it has become possible to buy 1 liter of mustard oil for less than ₹100, which can save up to ₹230 on buying 5 liters.