American and British forces have started responding to Houthi terrorists. Both countries carried out air and sea attacks on the targets of Iran supported group. Because of this, many oil tankers have diverted their routes instead of going through the Red Sea. Due to which an increase in the price of crude oil was also seen on Friday. During the trading session, oil from Gulf countries had even crossed $80 per barrel. Which also came down later. If experts are to be believed, the price of crude oil will still remain below $80 per barrel. The impact of cost will not be seen much in the prices of crude oil.
On the other hand, due to the increase in the price of crude oil, there has been no significant impact on the prices of petrol and diesel in India. Even today, there has been no change in the prices of petrol and diesel in all four metros of the country. The price of petrol and diesel has remained the same since May 2022. Let us also tell you what the price of crude oil has become at present. What are the prices of petrol and diesel in major cities of the country?
increase in oil price
The diversion of oil tankers from the Red Sea has increased following overnight air and sea strikes by the US and Britain on Houthi targets in Yemen following attacks on shipping by the Iran-backed group. Due to which an increase of 1 percent was seen in the price of oil on Friday. Brent crude futures closed 88 cents, or 1.14 percent, higher at $78.29 a barrel. The special thing is that during the trading session there was an increase of more than 3 percent in Brent crude. Due to which the price had crossed 80 dollars per barrel, which was the highest level of the current year. On the other hand, US oil US West Texas Intermediate crude futures rose 66 cents or 0.92 per cent to $72.68. After touching the highest level of $75.25 in 2024, this increase has decreased slightly.
Fall in oil prices in the last week
Analysts and industry experts said that although the change was expected to increase the cost and time taken to transport oil, supply has not yet been affected, reducing some of the earlier gains in prices. Last week, the price of Brent fell by 0.5 percent and the price of American oil fell by 1.1 percent. Earlier in the week, a sharp price cut by top supplier Saudi Arabia and a surprise increase in US crude oil inventories raised supply concerns. Matt Stefani, president of investment advisory firm Cavanal Hill Investment Management, said the lack of shipping through the Red Sea ... creates transportation problems for crude oil supplies, but the impact on the physical oil market has been minimal so far. Stephanie said that if this conflict spreads to the other side of the Arabian Peninsula… then the oil market may see more growth.
Tanker companies took the decision
Tanker companies Stena Bulk, Hafnia and Torm all said they had decided to stop all vessels heading to the Red Sea. However, Suez Canal Authority chief Osama Rabie said traffic in both directions is regular and there is no truth in reports of navigation being suspended due to developments in the Red Sea. The US and UK attacks come in retaliation for Houthi attacks since October on commercial vessels in the Red Sea in a show of support for the Palestinian militant group Hamas in its fight against Israel.
Petrol and diesel price in India
The special thing is that 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, 2022. 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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