Petrol Diesel Price Today: Petrol prices are above Rs 100 in most cities of the country even after the central government made a big drop in the prices of petrol and diesel in the past. At the same time, diesel is also eager to touch the 100 mark. It is a matter of relief for the people that the prices of petrol and diesel have remained stable for the last three months.
However, the predictions of a resurgence in their prices keep coming up in media reports every now and then. But looking at the latest situation in the international market, experts believe that people can get good news soon regarding the prices of petrol and diesel.
Crude oil prices in the international market have reached a seven-month low. Currently, the price of crude oil is $ 92 per barrel. Earlier in February, it was $ 90 per barrel, which had reached $ 125 per barrel by the end of June. Accordingly, in the last three months, crude has weakened by about 26 percent. Developed countries of Europe are also troubled by expensive fuel. In India too, the government had to take a decision to reduce the tax to give relief to the people.
There may be a reduction of up to Rs 3 per liter
According to market experts, the fall in crude oil may continue and it can go up to $ 85 per barrel. In such a situation, the prices of petrol and diesel can come down by 2 to 3 rupees. According to reports, the price of petrol and diesel in the country increases by 55-60 paise per liter, making crude oil costlier by $ 1 per barrel. Similarly, if there is a reduction of 1 dollar, the price of petrol and diesel also decreases by 55-60 paise per liter.
The reason for the decrease in the price of crude oil is being told due to the slowdown in the world’s major economies. The economy of China and many countries of Europe is currently under pressure. In addition, despite sanctions, Russian oil is reaching the international market in a big way. This is the reason why crude oil prices are expected to break further in the coming days.
Prices stable in the country from May 22
In the month of May, when the price of crude oil was skyrocketing in the international market, then Indian oil companies were suffering a lot. A lot of burden has already been placed on the consumers. In such a situation, on 22 May, the Central Government, taking a big decision, reduced the excise duty on petrol and diesel. Exide duty on petrol was reduced by Rs 8 and on diesel. Since then there has been no increase or reduction in prices.