New Delhi: After, US President Donald Trump cancelled a scheduled strike against Iran, prices in the international crude oil market plummeted. Standard Brent crude oil prices fell by about one and a half per cent. However, state-owned oil companies selling petrol and diesel domestically remained unchanged on Friday.
What is the reason of price change?
Fluctuations in crude oil prices in the international market have a direct impact on domestic fuel prices. In this context, the country’s public sector oil marketing companies review petrol and diesel prices every morning and announce the latest rates.
What is the price?
Petroleum companies have increased the prices four times in the month of May itself after the assembly elections in five states were over. Government petroleum companies had first increased the price of petrol by Rs 3 and diesel by 3.29 paise on May 15. After this, on May 19, petrol was made costlier by 87 paise and diesel by 91 paise, on May 23, petrol was made costlier by 87 paise and diesel by 91 paise and on May 25, petrol was made costlier by Rs 2.61 and diesel by Rs 2.71. There has been no change in the prices after that.
Petrol price in four metro cities?
According to information received from oil companies, petrol is available today at Rs 102.12 per litre in Delhi, Rs 113.51 in Kolkata, Rs 111.21 in Mumbai, and Rs 107.77 in Chennai. According to one estimate, due to the high crude oil prices, state-owned oil companies are incurring a daily loss of approximately Rs 750 crore on petrol, diesel, LPG, and jet fuel.
What is the price of diesel?
According to state-owned oil companies, the price of diesel in Delhi on Wednesday was Rs 95.20 per litre, in Kolkata it was Rs 99.02, in Mumbai Rs 97.83, and in Chennai Rs 99.55. Crude oil prices have risen significantly recently, rising nearly 50 per cent since the Iran war began.
Did crude oil decrease?
US President Donald has announced the cancellation of the scheduled strike against Iran. After this, there was a softening in the price of crude oil. Crude oil prices fell in the early trade on Friday. At 6 am, the price of Brent crude was seen to have decreased by 1.49 per cent or $1.35 per barrel. At this time, its price was seen to be $89.03 per barrel. Similarly, the price of WTI crude was also seen to have decreased by 1.61 per cent. At that time, it was seen to be trading at $86.30 per barrel.
