Petrol Diesel Prices / Will petrol and diesel become cheaper? Crude oil is more than 80 dollars since 7 days

Zoom News : Feb 18, 2024, 08:07 AM

Petrol Diesel Prices: Crude oil prices in the international market have remained below $80 per barrel for the last 7 trading days. Due to geopolitical tension, there is no hope of it coming down. If experts are to be believed, crude oil prices may cross $85 per barrel in a few days. However, since February 1, the price of Gulf oil has seen an increase of $6 per barrel and American crude oil has increased by $7 per barrel. In such a situation, there is no possibility of reduction in the price of crude oil in the coming days.

Due to which questions have been raised on petrol and diesel being cheaper in India too. Oil marketing companies themselves have accepted the fact that there is a lot of volatility in the prices of crude oil in the international market. Because of which it is not cheap to reduce the price of petrol and diesel. On the other hand, oil companies' profits on petrol have reduced. Whereas there is a loss of Rs 3 per liter on diesel. Let us also tell you what is the price of crude oil at present and how much will the people of the country have to pay for petrol and diesel?

Crude oil prices have been above $80 for 7 days

Crude oil prices in the international market have remained above $80 per barrel in the last trading days. For the first time in the month of February, on February 8, the price of Brent crude oil was seen above $ 80 per barrel, since then the price has remained above $ 80. At present the price of Brent crude oil is at $ 83.47 per barrel. On the other hand, there has also been an increase in the price of American crude oil. The price of American oil has been more than $ 75 per barrel continuously since February 8. At present the price of American oil is at $79.19 per barrel.

When did the prices of petrol and diesel change?

On the other hand, there has been no change in the prices of petrol and diesel in India. The last change in the prices of petrol and diesel in the metropolitan cities of the country was seen on May 21, 2022. At that time, the country's Finance Minister Nirmala Sitharaman had reduced the tax on the price of petrol and diesel. After that some states tried to influence prices by reducing or increasing VAT. The interesting thing is that ever since the prices of petrol and diesel started changing daily in the country as per the international market, this is the first time that petroleum companies have not made any changes during the record timeline.

Price of petrol and diesel in major cities of the country