Crude oil inventory has decreased in America. According to the Energy Information Administration there, there was a decline of 6.1 million barrels in the crude inventory in the week ending August 18.
What happens is that the purchase of crude increases when its inventory falls at the world’s largest consumer of crude. This accelerates the market.
But yesterday the crude oil market declined by one per cent. As far as the petrol diesel price in India is concerned, there has been no change in the prices even today.
Today is the 505th day when there has been no change in the petrol diesel price in India. Government Oil Marketing Companies (Government OMCs) did not make any change in the price of petrol and diesel today i.e. even on Thursday. These companies had last increased the price of petrol and diesel by 80-80 paise per liter on April 6, 2022.
What are petrol diesel prices in India’s metropolitan cities?
Petrol price in Delhi remained at Rs 96.72 and diesel at Rs 89.62 per liter on Thursday. Petrol is available at Rs 106.31 per liter and diesel at Rs 94.27 per liter in Mayanagari Mumbai. Petrol is available in Chennai at Rs 102.63 per liter and diesel at Rs 94.24 per litre. Apart from this, petrol is being sold at Rs 106.03 per liter and diesel at Rs 92.76 per liter in Kolkata.
When was the petrol diesel price changed?
As such, the prices of petrol had increased in the beginning of last year. But since April 7, 2022, there has been no increase or decrease in its price.
This means that today is the 505th day, while its price is stable. However, on 22 May 2022, the central government decided to reduce the central excise duty on petrol. Due to this, the price of petrol in Delhi had come down to Rs 96.72.
Stability in the price of diesel
The price of diesel is also stable for the last 505 days. In the year 2021, after September, the diesel market was faster than that of petrol. From a business point of view, manufacturing of diesel is costlier than petrol. But in the open market of India, petrol is sold expensive and diesel is sold cheap. However, its prices are also stable from April 7, 2022.
The diesel price in Delhi was reduced by 7.35 paise after the Central Excise duty cut on May 22 last year. After that its price came down to Rs 89.62 per litre.
Slowdown in the price of crude oil again
Crude oil inventory has come down in the US, the world’s largest consumer of crude oil. The Energy Information Administration there has reported that there has been a decline of 6.1 million barrels in inventory during the week ending August 18.
After this decline, there were chances of a boom in the crude market, as the purchase of crude from the US side would increase. But the price of crude oil decreased. Benchmark Brent crude was down 82 cents at $84.21 a barrel at Wednesday’s market close. West Texas Intermediate or WTI crude also declined 75 cents to $78.89 a barrel. It had fallen to 3.4 per cent during the session.
Know today’s rates in your city
In our country, there is a system to change the prices of Petrol-Diesel on a daily basis. If there is a change in this, the prices are automatically updated at 6 am. You can also know today’s rate of petrol-diesel through SMS (How to check petrol diesel price daily).
Customers of Indian Oil can get information by texting the code RSP space petrol pump to 9224992249 and customers of BPCL by texting RSP to 9223112222. Whereas, customers of HPCL can know the price by sending HPPrice to 9222201122.
