Petrol Rate Today: Petrol will be cheaper by Rs 10 for these reasons! Know the whole matter

According to the country’s commodity experts, the prices of petrol and diesel may start coming down in the beginning of January. Along with this, the government can also cut taxes.

Petrol Diesel Price Today: On the new year, the people of the country can see a big relief in the price of petrol and diesel (Petrol Diesel Rate Today). According to the country’s commodity experts, the prices of petrol and diesel may start coming down in the beginning of January. Along with this, the government can also cut taxes. Due to which the price of fuel can be reduced by Rs 10 per liter across the country.

The reason for this is the fall of Crude Oil Price in International Market by 45% in 9 months. Which can touch up to 50 percent by the end of the year. In fact, with the shadow of recession around the world, the interest rates can be increased aggressively again by the Fed. Because of which pressure is being seen in the prices of crude oil, which may continue in the coming days.

Crude oil came at the lowest level of the year

Crude oil prices have again seen a decline in foreign markets. In the closed market on Wednesday, the price of Brent crude oil has seen a decline of more than two and a half percent, due to which the price has reached $ 77.17 per barrel. On the other hand, a big decline has also been seen in the price of WTI. Have come to $ 72.01 per barrel. According to experts, this level of crude oil has reached its lowest level in a year. In the coming days, there can be a further decline in it.

Crude oil has become 45 percent cheaper in 9 months

On March 7, crude oil prices reached a record high in the international market. Since then, it has seen a decline of up to 45 percent. The price of Brent crude oil was at $ 139.13 per barrel on March 7, after that it has now come down to $ 77.17 per barrel. During this, a decline of 44.53 percent has been seen in it. On the other hand, the price of WTI crude oil has seen a decline of 44.82 percent during 9 months. On March 7, the price of WTI was at $ 130.50 per barrel.

Prices can fall up to 50 percent

Commodity experts believe that the price of crude oil may fall further. Brent crude and WTI can come down by 50 percent from the high of March. According to experts, in the coming days, the price of Brent crude oil can be seen at 70 to 72 dollars per barrel and the price of WTI can fall up to 65 dollars per barrel.

What are the reasons?

According to Ajays Kedia, director of Kedia Advisory, the effect of recession is being seen all over the world and there are indications that the US Fed may aggressively increase the interest rates by 75 basis points. On the other hand, economic sanctions have been removed from countries like Iran, so the supply in the oil market has increased. Due to these reasons, there is a decline in the price of crude oil.

Crude oil can be cheaper by Rs 10

Giving information, IIFL Vice President Anuj Gupta said that it can give relief to the common people in two ways in the price of petrol and diesel. First, the central and state governments can cut taxes. In the month of May, the central and state governments did the same. Since then the prices of petrol and diesel have remained frozen. The second way is to reduce the prices of oil marketing companies, which is very important. OMCs have not made any change in the prices of petrol and diesel since April. He said that a drop of Rs 10 in the price of petrol and diesel can be seen in the new year.

Most expensive petrol, diesel in India

The costliest petrol and diesel are being sold in Ganganagar and Hanumangarh districts of Rajasthan. Petrol in Ganganagar costs Rs 113.48 per liter and diesel costs Rs 98.24 per litre. While in Hanumangarh district, petrol is being sold at Rs 112.54 per liter and diesel at Rs 97.39 per litre.

cheapest petrol and diesel in india

The cheapest petrol and diesel in the country is being sold in Port Blair, where petrol costs Rs 84.10 per liter and diesel costs Rs 79.74 per litre.

Why is petrol, diesel expensive in India?

After adding excise duty, dealer commission and other charges, the price of petrol and diesel almost doubles. Petrol and diesel prices change daily depending on foreign exchange rates as well as crude oil prices in the international market.

Petrol and diesel prices have not changed since 200 days

Delhi: Petrol Rs 96.72 and diesel Rs 89.62 per litre.

Mumbai: Petrol Rs 106.31 and diesel Rs 94.27 per litre.

Kolkata: Petrol Rs 106.03 and diesel Rs 92.76 per litre.

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Chennai: Petrol Rs 102.63 and diesel Rs 94.24 per litre.