- According to estimates, the price of crude oil is expected to rise to $ 75 per barrel in the month of July.
- At present, the price of crude is $ 65 per barrel, the price of petrol in the country is beyond 100 rupees.
New Delhi: The price of petrol and diesel in the country has crossed Rs 100 per liter. If the government does not reduce the excise duty and the price of crude oil continues to increase, then in the month of July, the price of petrol in the country can reach from Rs 120 to Rs 125 per liter.
In fact, according to a foreign media report, Goldman Sachs said that the price of crude oil could reach $ 75 per barrel in the third quarter. If this happens, the price of petrol in India can increase by Rs 20 per liter. Let us tell you that after two days of relief, the price of petrol and diesel has increased again in the country.
According to Goldman
Goldman foresees that the crude oil price is expected to reach $ 75 per barrel between July and September, according to the third quarter ie the international market. According to the report, Goldman’s estimate is $ 10 per barrel higher than the previous estimate.
According to the report, due to a reduction in inventories and an increase in cost, the price of crude oil may increase. At the same time, demand for crude oil may also increase in the coming days.
Petrol can be up to 120 rupees
At present, crude oil prices have crossed $ 65 per barrel. After which the price of petrol has exceeded 100 rupees per liter in the country. Now crude oil is expected to reach $ 75 per barrel in July. In such a situation, the experts say that if the central government does not reduce the excise duty, then the price of petrol can reach 120 rupees. At the same time, the price of diesel can go around Rs 100 per liter.
What is the expert saying
Ajay Kedia, director of Kedia Advisory, says that after reaching crude oil at $ 75 per barrel, petrol price could see an increase of up to Rs 20 per liter by July. That is, petrol prices in the country can reach Rs 120 per liter. Ajay Kedia says that at present the price of petrol and diesel is increasing not from the price of crude oil but from the tax imposed by the Center.
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Even today, the price of petrol and diesel increases
According to IOCL, petrol price in Delhi, Kolkata, Mumbai, and Chennai has been increased to Rs 90.93, Rs 91.12, Rs 97.34, and Rs 92.90 per liter respectively on Tuesday. At the same time, the price of diesel was recorded at Rs 81.32, Rs 84.20, Rs 88.44, and Rs 86.31 per liter in Delhi, Kolkata, Mumbai, and Chennai respectively. Petrol prices have increased by 35 paise in Delhi, 34 paise in Mumbai, and 31 paise per liter in Chennai, while in Kolkata it has been decreased by 66 paise. At the same time, the price of diesel increased by 35 paise in Delhi, 38 paise in Mumbai, and 33 paise per liter in Chennai, while in Kolkata it was decreased by 36 paise. The West Bengal government had announced a reduction in VAT on petrol and diesel by Re 1 per liter two days ago.
