Petrol can be cheaper by Rs 2, crude oil by 6%

New Delhi, Saturday 12 September 2020

Inflation has broken the back of the common man in the Koro crisis, but now there is hope for some relief, as international crude oil prices have fallen and the rupee has strengthened, experts say, as local petrol-diesel prices rise further. Predicting a decline.

Oil marketing companies will be relieved as crude oil becomes cheaper, as India imports 82 per cent of its oil needs. Petrol prices have been rising steadily for the past few months, putting pressure on oil companies to reduce oil prices, according to Brent Crude. So it can give relief to consumers, if crude is reduced by 20 per cent, petrol and diesel can be reduced by 5 per cent, so that petrol and diesel can be cheaper by Rs 2.5 to 3 per liter.

According to Reuters, crude prices have fallen by more than 6 per cent in the past week, mainly due to a drop in demand for oil, as business activity has slowed where cases of the corona virus are on the rise, and demand has fallen. As oil companies begin offering discounts, experts are still worried that crude prices will fall, with Brent crude likely to fall to 32 32 a barrel by October.