Petrol-diesel prices will be cheaper by Rs.10, oil companies can give good news this month

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Image Source: Twitter

- Crude oil prices have fallen to around $75 per barrel

New delhi date. 17 January 2024, Wednesday

Petrol Diesel Price: There has been no change in petrol-diesel prices in the country since April 2022. People are eagerly waiting for the reduction in petrol-diesel prices. Then soon their eagerness will come to an end. The general public may get relief soon. Petrol-Diesel prices may come down by 5 to 10 rupees. Crude oil prices are falling in the global market. Crude oil prices have come down to around $75 per barrel but there is no change in oil prices in India but now you will get good news soon.

Profits to oil companies

Profits of oil companies have increased to Rs 75,000 crore for the December 2023 quarter. Considering the increasing profits of the oil companies, it is hoped that the companies can provide relief to the common people. May reduce the price of petrol and diesel. With the increase in profits, oil companies have indicated a pricing review. According to the report, oil marketing companies can have a profit margin of 10 rupees per liter. Companies can pass this margin on to consumers by reducing oil prices.

Crude oil price

Profits of oil companies have increased due to fall in crude oil prices. Oil companies have made huge profits due to higher margins. On the other hand, they have already been compensated for their losses. Hindustan Petroleum Corporation Limited posted a profit of Rs 5826.96 crore in the July-September quarter of FY 2023-24. On the other hand, Bharat Petroleum Corporation Limited (BPCL) in the September 2023 quarter received Rs. A consolidated net profit of 8244 crores was made. The government is the main promoter and majority shareholder in the three major oil companies of the country. The combined net profit of the three oil companies stood at Rs 57,091.87 crore in the first half of FY 2023-24, which is 4,917% higher than FY 2022-23.


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