Crude oil prices have increased in the international market. In the midst of this boom, petrol and diesel prices have stopped getting relief for 6 consecutive days. Petrol became cheaper by Rs 1.22 per liter in the national capital of Delhi in the last six days, while the price of diesel was given a relief of Rs 1.47 per liter to the consumers of the country. Last Tuesday, oil marketing companies cut petrol prices by 11-12 paise per liter. At the same time, the price of diesel was reduced by 13-14 paise per liter.
Rate List
According to the website of Indian Oil, the price of petrol in Delhi, Kolkata, Mumbai, and Chennai was Rs 73.60, Rs 76.22, Rs 79.21 and Rs 76.44 per liter respectively without any change. Similarly, the price of diesel in the four metros remains the same at Rs 66.58, Rs 68.94, Rs 69.79 and Rs 70.33 per liter respectively.
Crude Oil Price Rise
Meanwhile, the price of crude oil has gone up by more than 1 percent in the international market. On the international futures market, Intercontinental Exchange, ICE on Wednesday, Brent crude's April delivery contract was trading 1.11 percent higher at $ 59.46 per barrel, compared to the previous session, while the price rose to $ 59.48 per barrel during trading. At the same time, the March contract of the American light crude West Texas Intermediate, or WTI, was up 1.14 percent from the previous session at $ 54.09 a barrel.
In fact, the price of oil has increased due to the expectations of OPEC, a group of oil-producing countries, to cut the supply of crude oil. According to commodity market experts, OPEC is considering cutting the supply of crude oil in view of the freeze of oil prices in the international market. This is the reason that the pressure on the price was seen in view of the softening in the demand for oil due to the outbreak of the Corona virus. Explain that due to Corona virus outbreak in China, the demand for oil has been greatly affected.
