Huge rise in crude oil prices! Know how expensive petrol and diesel have become in your city?

Crude oil prices are once again showing an upward trend in the international market. Amidst the movements happening globally, crude oil of Gulf countries has now crossed the figure of $ 73 per barrel. Along with this, the prices of American crude are also seen trading above $70 per barrel. Amidst this heat in the oil market, a big news is also coming that Iraq is repeatedly demanding from OPEC to increase its quota. If the demands are not met, Iraq has even threatened to leave the OPEC organization, which experts are seeing as the beginning of a new price war in the Middle East.

If Iraq really decides to exit OPEC, it is certain that a new price war will break out in the Middle East. After this conflict, there may be a big fall in the prices of crude oil at the international level, which will significantly weaken Saudi Arabia’s years-old dominance over the oil market. Amidst all this, if we talk about India, then it is a matter of relief for Indian consumers that there has been no change in the prices of petrol and diesel in the country for more than a month. Let us tell you in detail what is the price of oil from the international market to your city.

What is happening with the price of crude oil in the international market?

Crude oil prices in the international market are trending higher today compared to the last few days. According to the latest data released by Bloomberg, crude oil from Gulf countries is trading at $ 73.15 per barrel with an increase of 1.61 percent. However, in the month of June, there was a significant softening in the prices of crude oil of Gulf countries. On the other hand, there has been a slight decline in the price of American crude. According to Bloomberg report, American oil is down by 0.65 percent at $ 70.29 per barrel, whereas a few days ago it had gone below $ 70 per barrel. Market analysts believe that similar fluctuations in crude oil prices may continue in the coming days.

Latest prices of petrol and diesel in major metros of India

Despite the ongoing fluctuations in crude oil globally, the prices of petrol and diesel in India have remained completely stable for the last 36 days. The last increase in the prices of petrol and diesel in the country was recorded on May 25. Market experts say that in view of the recent decline in the prices of crude oil in the international market, it is currently estimated that the freeze button on the prices of petrol and diesel in the country may remain pressed for a few more days.

If we look at the current fuel prices in major cities of the country, then in the country’s capital Delhi, the price of petrol remains at Rs 102.12 and the price of diesel remains at Rs 95.20 per liter. In Kolkata, the price of petrol remains at Rs 113.51 and the price of diesel remains at Rs 99.82 per liter. In the country’s financial capital Mumbai, the prices of petrol and diesel are being recorded at Rs 111.21 and Rs 97.83 per liter respectively. At the same time, the price of petrol in Chennai is stable at Rs 107.77 and diesel at Rs 99.55 per liter. Let us remind you that earlier in the month of May, a huge increase of 7 to 8 percent was seen in the fuel prices in the country.