Crude Oil Price / Crude oil fell by 8% in a month, has petrol become cheaper in your city?

Even though there was an increase of about one percent in the price of crude oil in the international market on Friday, the same price has come down by about 8 percent in a month. Crude oil from Gulf countries has become cheaper by about 8 percent in the international market. On the other hand, the prices of American crude oil have decreased by about 7 percent.

Vikrant Shekhawat : May 25, 2024, 08:41 AM

Crude Oil Price: Even though there was an increase of about one percent in the price of crude oil in the international market on Friday, the same price has come down by about 8 percent in a month. Crude oil from Gulf countries has become cheaper by about 8 percent in the international market. On the other hand, the prices of American crude oil have decreased by about 7 percent.

According to experts, there has been a decline in the price of crude oil due to impact on demand. In fact, due to strong economic data coming in America, it is estimated that the Fed may keep the interest rates on hold for a long time. Due to which there has been a rise in the dollar index. The effect of which will be seen in the price of crude oil.

On the other hand, there has been no change in the prices of petrol and diesel in India. The same prices will be applicable in the four metros of the country as they were on March 16. Then the country's OMC had reduced the price of petrol and diesel by Rs 2 per liter. According to experts, if a similar decline is seen in the price of crude oil, then there may be a reduction in the prices of petrol and diesel after the elections. Let us also tell you what the price of crude oil has become in the international market.

Crude Oil Prices

There was a rise in the price of crude oil in the international market on Friday. Brent crude oil of Gulf countries closed at $ 82.12 per barrel with a rise of 1 percent. However, in the last one month, there has been a decline of 7.70 percent in the price of Brent crude oil. Since April 26, Brent crude oil has become cheaper by $ 7 per barrel.

On the other hand, an increase of 1.11 percent was seen in the price of American crude oil i.e. WTI and the price has come down to $ 77.72 per barrel. In about a month, there has been a decline of about 7 percent in the price of American oil. This means that a fall of about 6 dollars has been seen in WTI.

Petrol and diesel prices in major cities of the country