National Desk:
Crude Oil Price: These days there is a sharp decline in the prices of crude oil in the international market. Crude oil prices have reached their lowest level in the last 7 months. Today Brent crude oil is trending around $92 per barrel. Despite this, the prices of petrol and diesel in the country are stable. Meanwhile, Petroleum Minister Hardeep Singh Puri has told why petrol and diesel are not getting cheaper even after the prices of crude oil have come down.
Petroleum Minister Hardeep Singh Puri has said that Indian oil companies are not going to cut the prices of petrol and diesel much. He says that the oil companies need more time to recover their losses.
During a program, the media asked him that in view of the fall in crude oil prices, petrol and diesel could be cheaper in the country? Responding to this question, the Petroleum Minister said that in developed countries, where fuel prices increased by up to 40 percent between July-August, in India the prices decreased by about 2.12 percent. In such a situation, the oil companies suffered losses. Now companies can continue the work of increasing the prices to make up for the loss.
Let us tell you that according to a report last month, the state-owned oil company Indian Oil sold petrol and diesel at a loss. The company sold petrol at a loss of Rs 10 per liter and diesel at a loss of Rs 15 per liter. However, now the company has recovered from the loss. But it is believed that the prices of petrol and diesel will not be reduced to compensate for the loss.
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