[ad_1]
State oil companies kept gasoline and diesel rates unchanged for six days, although world crude oil prices rose about 3 dollars a barrel during the first half of the year. this period.
Since June 21, crude oil has gained more than $ 6 to reach $ 79.5 a barrel as the United States seeks to enforce their sanctions against Iran, which could significantly reduce the price of oil. Oil supply.
The decision of a cartel of major oil-producing countries to increase production of one million barrels per day is considered insufficient to meet growing demand, and contributed to the recent soaring prices.
Crude oil prices remained high this year due to factors such as robust demand, an artificial supply constraint by the major oil producing countries, Saudi Arabia and Japan. Russia, and a sharp decline in production in Venezuela.
A lower rupee, coupled with the high price of oil, began to harm the Indian economy and consumers. Last week's rupiah dropped to a record low of over 69 to a dollar. India's import bill is expected to swell as the country imports nearly 83% of its crude oil requirements.
Since June 26, the price of gasoline has been constant at 75.55 Rs and that of diesel at 67.38 Rs per liter in Delhi. Similarly, in Mumbai, the price of gasoline remained unchanged at Rs 82.94 and that of diesel at Rs 71.49 per liter.
State oil companies determine local prices for gasoline and diesel using international fuel rates and currency movements. International gasoline and diesel prices follow the trajectory of crude oil, but with some lag.
The price of petrol in Delhi has fallen by Rs. 2,88 per liter since May 29th. The price of diesel is down Rs 1.93 per liter since May 29, after which prices began to fall.
The Indian Oil Corporation website, a key source of information on oil and diesel prices, has changed the way it publishes fuel prices, making fuel knowledge difficult. It also stopped publishing historical price data for all previous years.
[ad_2]
Source link
