Petrol and diesel prices fell for the last 6 days actually, oil companies did not make any changes in the price of petrol and diesel on Wednesday.
According to Indian Oil website, on Wednesday, prices of petrol in Delhi, Kolkata, Mumbai, and Chennai were as high as Rs 71.18, Rs 73.25, Rs 76.79 and Rs 73.88 per liter respectively.
There is no change in the price of diesel in all four metros. Diesel prices are 65.86 rupees, 67.61 rupees, 69 rupees and 69.61 rupees per liter respectively.
Over the last six days, the price of oil was continuously declining. In the last six days, petrol in the country's capital Delhi has been cheaper by Rs 1.82, while diesel price has dropped by 80 paise per liter. This fall has broken the brakes.
On the other hand, the rate of crude oil in the international market was also low. Market analysts point out that however, the increase in the oil reserves in the US has led to an increase in the price of crude oil.
In fact, according to the report of the US Petroleum Institute Tuesday, on May 10, the US crude oil reserves rose by 86 million barrels in the past week.
After this report, the crude oil crisis in the international market has subsided on Wednesday, although Brent crude prices still remained above $ 71 a barrel. But the possibility of an increase in oil prices is still there. Crude oil prices have increased in the last few days in the international market.
However, the price of petrol and diesel is still being cut. But market analysts are worried that after the election, the price of oil is going to rise again. Energy experts believe that in the international market, crude oil prices will come up sharply in the coming days, at petrol and diesel prices. There can be an increase of 3 to 4 rupees.