Crude oil prices are seen crashing on Wednesday. According to the data, the price of Brent crude oil is trading at $ 81.38 per barrel with a decline of about 5 percent. On the other hand, the price of WTI has fallen by about 5 percent to about $ 77 per barrel.
There is a big decline in the price of crude oil from Middle East to US. The main reason for this is the increase in the supply of crude oil. On one hand, US and OPEC have to increase supply more than demand. At the same time, due to increase in dollar index, pressure on crude oil prices is increasing. For this reason, there is a decline in the price of crude oil. China's economic figures have also not looked better. Due to which demand concerns have increased.
Due to the fall in the prices of crude oil, the possibilities of reduction in the prices of petrol and diesel in India have increased significantly. According to experts, the government and petroleum companies should now reduce the prices of petrol and diesel. According to experts, more steps will have to be taken to control inflation in America.
It is possible that interest rates may increase by 25 basis points in the next Fed meeting. Due to which the dollar index will rise and the price of crude oil will fall. In such a situation, this may be the right time to provide relief to the common people. Let us also tell you what the price of crude oil has become at present.
Crude oil prices crashed
Crude oil prices are seen crashing on Wednesday. According to the data, the price of Brent crude oil is trading at $ 81.38 per barrel with a decline of about 5 percent. On the other hand, the price of WTI has fallen by about 5 percent to about $ 77 per barrel. On Tuesday, international market crude oil prices fell below $84 per barrel for the first time since the Israel-Hamas war. At present, the price of crude oil has reached its lowest level in about 4 months. In which further decline may be seen.
Crude oil prices may fall below $80
The price of crude oil may fall below $80 per barrel in the coming days. The main reason for this is demand and inflation. Global demand is low. There is a continuous increase in American reserves. China's figures are not better. In such a situation, demand concern can be seen from here also. There has been a slight relaxation in supply from OPEC. On the other hand, Fed rates may increase in America to reduce inflation. Due to which a decline may be seen in the dollar index. The effect of which may be seen in the fall in the price of crude oil. If experts are to be believed, the price of Brent crude oil may go below $80 per barrel in the coming days.
Will petrol and diesel become cheaper in India?
Now the biggest question is whether there will be a decline in the prices of petrol and diesel? The answer is yes. According to experts, the kind of signals are being seen in the international market. From this it seems that the prices of crude oil will not increase in the coming days. In such a situation, common people should get relief in the price of petrol and diesel. According to experts, there is a possibility of a fall of Rs 5 to 7 in the prices of petrol and diesel. Last year's loss of petroleum companies has been completed. Petroleum companies have been making profits for the last three quarters. In such a situation, the pressure of common people is continuously increasing.
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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