Petrol Diesel Price Today: Crude oil became expensive by 34 percent in 90 days, will petrol still be cheaper? - Newztezz Online

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Monday, September 25, 2023

Petrol Diesel Price Today: Crude oil became expensive by 34 percent in 90 days, will petrol still be cheaper?

Petrol and diesel prices in all four metros of the country have not changed since May 21, 2022. There is no possibility of any change in this in the coming days. The reason for this is crude oil. In the international market, the price of crude oil has been crossing $90 per barrel for the last two and a half weeks.

It has been two and a half weeks since the price of crude oil crossed $90. At present, Brent crude oil is around $95 while the price of American crude oil is trading above $90 per barrel. According to experts, crude oil prices may cross $100 per barrel in the coming days.

In fact, there has been a reduction in the production of crude oil by Saudi Arabia and Russia. This cut will continue till December. Some people estimate that, the way the demand from China is increasing and the US reserves are continuously declining, there will be no relief from crude oil even in 2024.

There is another reason for this also. The situation of some Gulf countries has become so bad that they are not in a position to increase production due to their old machinery. This is the reason why crude oil prices are likely to remain high in the coming days. Let us also tell you what the prices of crude oil have become at present and what the prices of petrol and diesel have become in the four metros of the country.

Crude oil price near 94 dollars

Crude oil prices have reached close to the dollar. According to the data, the price of Brent crude oil is trading at $ 93.67 per barrel with an increase of 0.43 percent. In the last three months, the price of Brent crude oil has seen an increase of 20 dollars i.e. 27 percent. On the other hand, a significant increase has been seen in the price of WTI.

At present, the price of American crude oil is trading at $90.53 per barrel with an increase of $0.56 per barrel. Since June 27, the price of WTI has seen an increase of about $ 23 per barrel. This means that the price of WTI has increased by about 34 percent in about 90 days. There are chances of further increase.

Petrol and diesel price in India

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. 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

New Delhi: Petrol rate: Rs 96.72 per liter, Diesel rate: Rs 89.62 per liter

Kolkata: Petrol rate: Rs 106.03 per liter, Diesel rate: Rs 92.76 per liter

Mumbai: Petrol rate: Rs 106.31 per liter, Diesel rate: Rs 94.27 per liter

Chennai: Petrol rate: Rs 102.63 per liter, Diesel rate: Rs 94.24 per liter

Bengaluru: Petrol rate: Rs 101.94 per liter, Diesel rate: Rs 87.89 per liter

Chandigarh: Petrol rate: Rs 96.20 per liter, Diesel rate: Rs 84.26 per liter

Gurugram: Petrol rate: Rs 97.18 per liter, Diesel rate: Rs 90.05 per liter

Lucknow: Petrol rate: Rs 96.57 per liter, Diesel rate: Rs 89.76 per liter

Noida: Petrol rate: Rs 96.79 per liter, Diesel rate: Rs 89.96 per liter

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