Wreaks havoc on Corona, public curfew in India today. Fighting the virus has stopped the pace of the whole world, people have been 'imprisoned' in homes. In this case, the demand for fuel has also decreased. Crude oil remains below $ 30 per barrel, but today is the sixth day the oil marketing companies have not changed the price of petrol and diesel. At the moment, there seems little scope for further reduction in prices. However, the benefit of cheap crude oil was given to the aviation industry on 21 March. ATF prices have been reduced, which may make air travel cheaper in the coming days.
Fuel demand has been reported to be down by 11% in March. According to experts, the price of crude oil can reach near $ 20, but if this happens, the excise duty on petrol and diesel may increase further. Due to excise, the benefit of the reduction in fuel price will be slightly reduced to the customers.
The price of crude oil can come up to $ 20, oil consumption may decline by about 11 lakh barrels per year, which would be a record. Goldman said, "Due to the outbreak of Corona virus, there has been a big drop in oil demand. Brent crude price may fall to $ 20 in the second quarter.
Today's prices in your city
Know how the prices of petrol and diesel change daily and get updated at 6 am. You can also know the daily rate of petrol and diesel through SMS. Indian Oil customers can get information by writing RSP to 9224992249 and BPCL consumers can send information to 9223112222 by writing RSP. At the same time, HPCL consumers can know the price by writing to HPPrice and sending it to number 9222201122.