There is a rise in the prices of crude oil in the international market. Where crude oil from Gulf countries is trading above $73 per barrel. On the other hand, American crude prices are seen trading above $70 per barrel. However, Iraq is repeatedly demanding from OPEC to increase its quota. If this is not done, he has also threatened to leave OPEC. This means that a new war has begun in the Middle East.
If Iraq leaves OPEC, a new price war will start in the Middle East. After which there will be a significant decline in the prices of crude oil. Besides, the kingdom of Saudi Arabia will also become very weak. If we talk about India, there has been no change in the prices of petrol and diesel for more than a month. Let us also tell you what is the price of oil from the international market to India.
Crude oil prices in the international market are higher than before. According to Bloomberg data, 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 has been a significant decline in the prices of crude oil in Gulf countries. On the other hand, the price of American crude has declined. According to Bloomberg report, it is at $ 70.29 per barrel with a decline of 0.65 percent. For some days, American oil was trading below $70 per barrel. If experts are to be believed, there may be fluctuations in the prices of crude oil in the coming days.
There has been no change in the prices of petrol and diesel in India for 36 days. The last increase in the prices of petrol and diesel was seen on May 25. According to experts, the way crude oil prices are falling, it is estimated that the freeze button will remain pressed on the prices of petrol and diesel. The price of petrol and diesel in Delhi is Rs 102.12 and Rs 95.20 per liter respectively.
The price of petrol in Kolkata is Rs 113.51 and the price of diesel is Rs 99.82 per liter. In Mumbai, the prices of petrol and diesel are seen at Rs 111.21 and Rs 97.83 per liter respectively. Whereas in Chennai the price of petrol has come to Rs 107.77 and diesel to Rs 99.55 per liter. However, in the month of May, there was an increase of 7 to 8 percent in fuel prices.
