10% of crude oil rolled due to these 5 reasons with Corona wave, know how cheap petrol-diesel has become
Petrol Diesel Rate Today: Worldwide Corona’s new accentOn the one hand, while causing havoc, on the other hand, many countries including India have breathed a sigh of relief from the falling prices of Crude Oil. In the last two weeks Crude oil price It has reduced by more than 10 percent. Brent crude oil fell 4.5 percent on Thursday alone. Although more benefit of this cut Petrol and diesel (Petrol-Diesel Price Today) buyers do not see.
The next meeting of the GST Council will be held in May to discuss the inclusion of petrol and diesel in the ambit of GST.
Oil companies have cut the price of petrol and diesel by just 39 paise in the last two days. If the price of petrol and diesel had been cut according to the price of crude oil, then the relief of 4 to 5 rupees could have been given to the general public. However, there was no reduction in the rate of petrol and diesel on Friday.
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Anuj Gupta, Vice President of IIFL Securities Commodityband Currency Research (IIFL Securities, Commodityband currency research), has seen a steady decline in crude oil prices on Thursday. Currently, WTI crude is trading at $ 58.20 and Brent crude at $ 61.78 a barrel. Crude oil can still come down to $ 3-4. However, how much profit will the oil companies provide to the customers, it will be a matter to be seen.
The prices fell due to these 5 reasons
1. China’s independent refineries have reduced imports of crude oil due to repairs. They import 20 percent of the country. Due to the decrease in imports, the impact of the decrease in demand has been shown on crude oil. India and China are major customers of crude oil.
2. The supply of crude oil, especially after the change of power in the US, has also shown the effect of increasing the oil supply in Iran.
3. After the arrival of new wave of Corona, the economic activities in many countries are restructuring again.
4. In the coming few months, there is no possibility of acceleration in economic activity, due to which the crude oil rolled
5. Many countries, including Europe, imposed many restrictions including air traffic, the effect of which is being seen.
Prices in metros are still on the sky
If you look at today’s prices after the price cut on March 25, the price of petrol (Delhi Petrol Price Today) in Delhi is Rs. 90.78 per liter and diesel prices are Rs. 81.10 per liter. Petrol in Mumbai is priced at Rs 97.19 per liter. Diesel is being sold at Rs 88.20 per liter.
High prices in Kolkata-Chennai
Talking about Chennai, the price of petrol here is Rs 92.77 per liter, while diesel is being sold at Rs 86.10 per liter. The price of petrol in Kolkata is Rs 90.98 per liter and the price of diesel is Rs 83.98 per liter.