Petrol Diesel Prices In India: Lok sabha Elections Before 2024, the central government can give a big gift to the countrymen. There is talk that the government can give big relief in oil prices. On Thursday (December 28), sources said that the government can reduce the price of petrol by Rs 7-8.
According to sources, diesel prices may also reduce. He told that there was a discussion between the Petroleum Ministry and the Finance Ministry regarding prices only last week.
Sources said that the Petroleum Ministry has prepared a proposal for the approval of the Prime Minister, including a reduction of Rs 8 to 10 per liter in petrol and diesel, which may soon get the green signal.
In this quarter, all three companies together have made a profit of Rs 28 thousand crores. At the same time, in the last three quarters, all three petroleum companies together have made a total profit of Rs 1 lakh crore. Petroleum companies are taking a profit of Rs 12 on one liter petrol and Rs 5 on diesel. The price of crude oil in the world market has been less than $ 75 per barrel since last one year.
Crude oil futures prices fall due to weak spot demand
On the other hand, due to weak spot demand, the price of crude oil fell by 0.95 percent to Rs 6,152 per barrel in futures trade on Thursday (December 28) due to traders cutting their deals.
On the Multi Commodity Exchange, the contract of crude oil for delivery in January 2024 fell by Rs 59 or 0.95 percent to Rs 6,152 per barrel. It was traded for 11.754 lots.
Globally, West Texas Intermediate crude oil fell by 0.50 percent to $ 73.74 per barrel, while the price of Brent crude was trading at $ 79.35 per barrel, showing a decline of 0.38 percent.
