Petrol becomes cheaper in neighboring countries: Prices reduced in China, Pakistan and Nepal; When will there be relief in India?

Petrol Diesel Price Cut China Pakistan Nepal: Due to worldwide crude oil prices falling below $100 per barrel, the average price of petrol globally has come down from Rs 147.90 to Rs 145.99 per liter. Many neighboring countries of India have benefited from this decline, where reduction in fuel prices has been recorded since the month of June.

Where is petrol-diesel cheap, where is expensive?

According to global petrol price data, many of India’s neighbors have provided relief to their citizens:

Pakistan: Here the average price of petrol has come down from Rs 139.41 to Rs 130.82 per liter. The price of diesel has also reduced from Rs 139.07 to Rs 130.48 here.

China and Nepal: Petrol is now available at Rs 132.81 per liter in China and Rs 135.86 per liter in Nepal. There has also been a slight decline in diesel prices in Nepal.

Myanmar: Here the price of petrol has come down to Rs 140.20.

Rising prices: In contrast, petrol prices in Sri Lanka have increased to Rs 142.00 per litre, the highest among neighboring countries. Bangladesh and Bhutan have also seen petrol prices rise or remain stable.

Situation in India: Fears of hike amid stability The average price of petrol in India is currently stable at Rs 108.71 per liter, which is about Rs 37.28 cheaper than the global average rate. According to experts, it seems difficult to reduce the prices in India right now because the government had already given relief by reducing the tax by Rs 10 each during the war and elections.

Rating agency CRISIL has warned that to compensate for the losses of oil companies petrol-diesel A further increase of about Rs 2.5 per liter may be required. If this happens, the total increase in recent months will reach close to Rs 10.

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When will the prices come down?

A real fall in fuel prices in India is possible only when the Iran war ends and crude oil comes to the level of $70 to $80 per barrel in the international market. However, according to data, India has given the maximum relief to its citizens during the Iran War, where the price of petrol has increased by only 7.4% and that of diesel by 8.3%.