Oil Minister Dharmendra Pradhan said the oil price would also soften once the winter is over. He said oil prices would increase during this season. Oppositions are protesting after oil prices have crossed Rs 100 per liter in many cities.
Dharmendra Pradhan said the increase in petroleum prices in the international market has also affected consumers. Prices drop slightly as winter passes. It’s an international thing. Prices increased as demand increased. This happens in the winter and prices go down even further.
The petrol retailer sold 90.93 per liter and the diesel 1 in Delhi at 81.31 a liter. The price of petrol in Kolkata is 94.68 per liter and 84.20 per liter of diesel. Petrol is on sale in Bangalore at 93.98 and diesel at 86.21.
In some places in Rajasthan and Madhya Pradesh, the price of petrol is already Rs. These states impose a maximum value added tax (VAT) on fuel. This situation will continue until the tax on oil is reduced or the oil-producing countries do not rapidly increase production from April. Three Wall Street banks – Goldman Sachs, Morgan Stanley and Bank of America – forecast oil prices to be $ 70 per barrel over the next two months. Prices are expected to come up to $ 75 even after that. According to Goldman, OPEC’s decision to increase oil production does not reduce prices because there is no supply to meet demand.
100 per liter of petrol Could it be the new normal?
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