Crude OIl Price Slips Below 80 Dollar Per Barrel Petrol Diesel Prices Likely To Come Down

Petrol Diesel Price on 29 January 2023: Soon there is hope of getting relief on the front of petrol diesel prices. In the international market, the price of crude oil has again reached below $80 per barrel. WTI crude is below $ 80 per barrel at $ 79.68 per barrel, so the price of crude oil for India has come down to $ 80 per barrel and it is falling at $ 79.98 per barrel.

hope for quick relief

Recently, Petroleum Minister Hardeep Puri had indicated that if the losses of government oil companies are compensated, then they will cut the prices of petrol and diesel. Government oil companies are making a profit of around Rs 5 per liter on selling petrol, but are incurring a loss of Rs 13 per liter on selling diesel. However, if the price of crude oil remains below $ 80 per barrel, then it will help in compensating for this loss.

Relief in February!

Hence, from February 2023, there is a possibility of further reduction in the prices of crude oil. Saudi Arabia has decided to reduce the prices of crude oil. Saudi Arabia will sell crude oil to Asian countries and Europe at cheap prices from February 1. Saudi Aramco, the largest oil company of the Saudi Government, has reduced the prices of all types of crude oil sold in Asia in February 2023. Saudi Arabia exports 60 percent of crude oil to Asia under long-term contracts, for which the price is reviewed every month. India, China, Japan and South Korea are among the biggest buyers of oil from Saudi Arabia.

Petrol and diesel prices in four metros

Delhi- Petrol Rs 96.72 and diesel Rs 89.62 per liter
Chennai – Petrol Rs 102.63 and diesel Rs 94.24 per liter
Mumbai- Petrol Rs 106.31 and diesel Rs 94.27 per liter
Kolkata – Petrol Rs 106.03 and diesel Rs 92.76 per liter

read this also- Ashneer Grover: How much salary did Ashneer and his wife get from BharatPe, revealed in the report