New rates of petrol and diesel released, crude oil became cheaper due to America’s decision, check the price in your city.

A major decision by US President Donald Trump against Iran has changed the picture of the international oil market. America has announced the cancellation of a possible military strike on Iran. The direct effect of this geopolitical relief was visible on the prices of crude oil and the prices of crude oil in the global market have fallen by about one and a half percent. Despite this huge fall in the international market, the country’s government oil marketing companies have not made any change in the retail prices of petrol and diesel. Even today, a common man will have to pay the same price to fill his vehicle’s tank as yesterday.

Crude oil became cheaper

Crude oil prices are showing a sluggish trend since Friday morning. In the international market, standard Brent crude has fallen by 1.49 percent ($1.35) to the level of $89.03 per barrel. On the same lines, WTI crude is also trading at $ 86.30 per barrel with a decline of 1.61 percent. Let us tell you that since the start of the Iran war, there had been a huge jump of about 50 percent in the prices of crude oil.

Oil companies are facing losses of crores of rupees

Even after this latest softening of crude oil, a big economic mathematics is at work behind the price not falling. Due to international crude oil being expensive, the margins of government oil companies have been deeply affected. According to an estimate, oil companies are facing huge losses of about Rs 750 crore every day on the current sales of petrol, diesel, LPG and aviation turbine fuel (jet fuel). Market experts believe that unless the previous losses of the companies are reduced, there is very little scope for consumers to get cheap oil directly at the petrol pumps.

Check the rates in your city before leaving home

The old prices will remain applicable across the country even today. In the capital Delhi on Friday, petrol is being sold at Rs 102.12 per liter while diesel is being sold at Rs 95.20 per liter. In the country’s financial capital Mumbai, the price of petrol remains at Rs 111.21 and diesel at Rs 97.83 per litre.

You can know the latest rates through SMS

If you are filling Indian Oil (IOC) oil, then type RSP from your mobile and message it to 9224992249. Bharat Petroleum (BPCL) customers can send their message to number 9223112222, while Hindustan Petroleum (HPCL) customers can send their message by writing HPPRICE to 9222201122. Along with the message, you will also have to enter your city code, which is easily available on the official website of oil companies.