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Sunday, 27 May 2018

Petrol Price For Today 26.05.2018 Saturday, Free Crude Price daily | Live Commodity Tips

Petrol Price For Today 26.05.2018 Saturday, Free Crude Price daily

Despite the decline in crude prices, prices of petrol and diesel continued to increase in the country. On Saturday, prices of petrol went up by 14 paise to 77.97 rupees in Mumbai and Rs 85.78 per  liter in Mumbai . Diesel became expensive at 15 paisa per liter. Thus, with the hike in prices for the 13th consecutive day, petrol and diesel have made a new record in the country.
Significantly, prices of petrol and diesel are changed daily. However, during the Karnataka elections, there was no change in prices between April 25 and May 13.

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New prices of petrol and diesel in metro cities
According to the IndianOil website, new petrol prices will cost Rs 77.97 in Delhi, Rs 80.61 in Kolkata, Rs 85.78 in Mumbai and Rs 80.95 in Chennai.
Diesel prices will be priced at Rs 68.90 in Delhi, Rs 71.45 in Kolkata, Rs 73.36 in Mumbai and Rs 72.74 in Chennai. Due to the levy levied by states, the prices of both the fuel are different in the states.

oil prices are witnessing a decline in crude oil after a major fall in crude prices this year is about 20 per cent cheaper. Crude oil today fell by 2.70 per cent to Rs 76.66 after the signs of boosting further production by Russia after OPEC countries. Crude oil closed on Thursday at $ 78.79 a barrel. Anuj Gupta of Angel Broking says that crude has been falling for 2 consecutive days. This fall was more on Friday, which, on Saturday, oil companies can provide relief on petrol and diesel prices. There is no hope of a change in prices on Saturday.  

Why is the signal given to increase production,
that Venezuela and Iran may have a major drop in crude supplies? To compensate for this, OPEC countries and Russia have indicated that the deals related to the reduction of crude production could increase production by making some changes. Now its effect is being seen on the prices of crude oil.

Eyeing the government
's coming is unlikely to decrease in prices in the international market are now pinned on the eyes government. If the government reduces excise duty on petrol diesel then the common people can get relief from rising prices. Earlier, the government has done this once to control the prices two months ago. At the same time, state can provide relief to people by reducing VAT. Read more, why companies are increasingly increasing prices ........

Why are the companies increasingly increasing prices?
Actually, oil companies kept the prices of petrol and diesel stable for nearly three weeks before voting for Karnataka elections. Polling was held in Karnataka on May 12. After that, on May 14, oil companies again started daily review of prices. Oil companies are estimated to lose about Rs 500 crore due to not changing the prices of petrol and diesel for 19 days. Because, in the international market, the rise in crude oil prices and weakening of rupee against the dollar has increased their cost. In such a situation, oil companies can increase prices to go ahead with margin prior to the Karnataka elections.

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