The continuing downtrend in the international prices of crude oil during the past week has set the stage for a downward revision of the domestic prices of petrol and diesel at the next revision due on September 30.

The rupee has also strengthened against the dollar since the last revision 24 days ago.

Ever since the domestic prices of  the two automobile fuels were increased on August 31-September 1, the international prices of crude have come down from $29.57 to $26.08 a barrel.

The decline is expected to reflected in the next price revision of domestic petrol and diesel by month-end.

International crude oil market continues to remain soft in expectations that the forthcoming meeting of OPEC will leave the output levels unchanged for now despite concerns within the cartel that surplus supplies could soon weaken the market.

OPEC has seen oil prices ease this month to four-month lows. Prices for an index of crudes are still close to the middle of OPEC's $22-$28 a barrel target range but OPEC ministers have said they are worried about a counter-seasonal build in stocks as non-OPEC supplies from Africa and Russia come on to the market and as Iraq recovers from the impact of war.

The international benchmark Brent (dated) crude, which was hovering at $25.96 a barrel on September 17,  moved down to $25.28 a barrel on September 19, but moved up to $26.08 a barrel on September 23.

Naphtha (Singapore), which was being quoted at $27.13 a barrel on September 17, softened to $27 a barrel on September 19, and moved up to $27.30 a barrel on September 23.

Prices of unleaded petrol (fob Singapore), which were ruling at $30.38 a barrel on September 17, moved to $30.35 a barrel on September 19, and marginally appreciated to $30.55 a barrel on September 23.

Jet fuel (Singapore), which was being quoted at $30.75 a barrel on September 17, moved down to $30.63 a barrel on September 19, but hardened to $ 30.78 a barrel on September 23.

Prices of gas oil (Singapore) with 0.5 per cent sulphur, which were ruling at $ 30.95 a barrel on September 17,  touched $ 30.45 a barrel on September 19, and  moved down to $ 30.28 a barrel on September 16.

Traders are also waiting for US oil inventory data to be released later today by the government's Energy Information Administration.

The data are expected to show rising stocks in the world's biggest oil consumer following near record levels of imports, but inventory levels are expected to remain below average.