Petrol And Diesel Prices: Crude oil is below 80 dollars, has petrol become cheaper in your city?

The dollar index is at a one-month high. Middle East tension has not subsided even after more than 100 days. OPEC has reduced production. Despite all these things, the price of crude oil remains below $ 80 per barrel. Let us also tell you what effect it has had on the prices of petrol and diesel in India.

On Wednesday i.e. 17 January 2023, there was no change in the prices of petrol and diesel in the four metros and major cities of the country. If there is no change till May 2024, then it will be two full years in the country when there will be no change in the prices of petrol and diesel. Whereas in March 2022, the price of crude oil has come down by about 50 percent from the level it was at during the Russia-Ukraine war. If we talk about the present time, the dollar index is at a one-month high.

Middle East tension has not subsided even after more than 100 days. OPEC has reduced production. Despite all these things, the price of crude oil remains below $ 80 per barrel. Earlier, the last nationwide change in fuel prices in the country was seen on May 21, 2022, when Finance Minister Nirmala Sitharaman reduced excise duty on petrol by Rs 8 per liter and on diesel by Rs 6 per liter. Let us also tell you what is the price of crude oil in the world and what is the price of petrol and diesel to be paid in India?

What is the price of crude oil?

There was a slight change in the price of crude oil in the international market on Tuesday. Pressure was seen in the prices of crude oil due to the dollar reaching a one-month high level. At the same time, support was also received due to nervousness about the impact on energy supply due to increasing tensions in the Middle East. Brent crude futures, the crude oil of Gulf countries, closed at $ 78.29 per barrel, up 14 cents or 0.2 percent. On the other hand, in the market that opened after Monday's public holiday, on Tuesday, American crude oil US West Texas Intermediate crude futures (WTI) fell by 28 cents or 0.4 percent and closed at $ 72.40 per barrel. American markets were closed on Monday due to public holiday.

No change from May 2022

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, 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