Petrol can cost up to Rs 12, diesel up to Rs 10: SBI EcoReport report

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New delhi date. 18 March 2020, Wednesday

According to the ECORP report of the State Bank of India, petrol-diesel prices will fall in India. In India, petrol can cost up to Rs 12 and diesel up to Rs 10. The cause of the epidemic is the corona virus. The reduction in global crude oil prices due to corona could reduce petrol prices by Rs 12 per liter in India and diesel by Rs 10 per liter in India.

However, SBI's EcoRep report states that this is possible only if the government exceeds excise duty. If both the Center and the State are not willing to cut the prices of the fuel, they should not increase excise duty under any circumstances. If the government increases excise duty, the benefits of lowering the price of crude oil cannot be realized as a reduction in the price of petrol-diesel.

Due to Corona, there is a boom in the markets around the world and the stock market and commodity markets are also crying. Apart from this, the price of crude oil has also dropped drastically over the past few years and its prices have come down to 30%. Brent crude is trading at $ 30.85 a share and WTI crude is trading at $ 28 per share.

The impact of crude oil prices in the country is being seen on petrol-diesel and its prices are falling, but recently the central government increased excise duty of Rs.

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