Between July and August, the international crude oil price was cut by about $ 4 per dollar.
Between July and August, the international crude oil price was cut by about $ 4 per dollar. But the oil companies in the country cut petrol prices by only 65 paise per liter in 50 days.
- TV9 No.
- Publish Date – 1:19 pm, Sat, 2 October 21Edited By: Raghav Wadhwa
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Petrol-diesel becomes expensive in the domestic market due to the increase in the international crude oil prices. Crude oil prices have come down once again. Within a few hours, the price of Brent crude rose again to near $ 80 per barrel. After this, the oil marketing companies of the country announced to increase the prices of petrol and diesel in the domestic market. Petrol price in Delhi increased by 45 paise per liter in three days. Whereas, the price of diesel has increased by 1 rupee 25 paise in seven days. The price of crude oil has a direct effect on petrol and diesel.
Petrol became costlier by 45 paise per liter within three days
But one thing is to be noted that between July and August, the international crude oil price was cut by about $ 4 per dollar. But the oil companies in the country cut petrol prices by only 65 paise per liter in 50 days. However, now that the price of crude oil is increasing at the international level, within three days petrol became costlier by 45 paise per liter. That is, when the deduction took place, its benefit was not fully passed on to the customers. And now when the price of oil is increasing, then the prices of petrol and diesel are being increased for the customers immediately.
After the decrease in the price of crude oil in the international market, between July 17 and September 5, petrol prices were cut in the country four times. But despite this, the price of petrol in many states of the country did not fall below Rs 100 per liter. At present, the highest price of petrol in the country is in Seoni, Madhya Pradesh, where Rs 113.28 has to be paid to buy petrol. At the same time, to buy petrol in Sriganganagar, Rajasthan, you will have to pay Rs 113.01.
Preparing to reduce crude oil production
According to the news agency Reuters, the meeting of OPEC + will be held on 4 October i.e. Monday. A lot of speculations are being made before this meeting. It is believed that preparations are being made to reduce the production of crude oil in the meeting. However, no decision has been taken yet. But due to these news, the prices of crude oil have returned. This momentum may continue in the coming days.
Let us tell you that the oil companies do the work of fixing the prices of diesel and petrol in India. Crude oil prices in the foreign market have a big role in deciding the price. Oil companies fix petrol and diesel prices on the basis of 15 days average price of crude oil and dollar value.
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