Petrol and Diesel prices are not changed on Monday 22 July). Due to the softening of the price of crude oil, the price of petrol and diesel remained constant for the fourth consecutive day. Explain that oil marketing companies have not made any changes in the price of diesel for the 10th day, while there is no change in the price of petrol for the fourth consecutive day.But after the incident of the seizure of British Tanker by Iran, there is a possibility of the increase in crude oil in the Gulf region due to the increase in tension. With the softening of crude oil prices in the past.
With weakening demand for crude oil prices remained soft last week and there is a possibility of further weakening the demand, but the tension between the US-Iran can get support for oil prices.Energy experts say that by expressing the possibility of weakening the 2019 oil by the International Energy Agency (IEA), the pressure on prices will not be much affected, as rising tension in the Gulf region will provide support for prices.
Oil prices vary daily according to international market trends. Oil marketing companies in India, OMCs, decide the rates of petrol and diesel rates after reviewing the prices. Indian Oil, Indian Oil, Bharat Petroleum Bharat Petrolium and Hindustan Petroleum Hindustan Petrolium) every 6 am every morning, petrol, petrol and diesel diesel.
Explain that the prices of petrol and diesel in the country are fixed daily as the Dynamic Fuel Pricing Mechanism is applicable from June 16, 2017 for determining the prices of oil here. Earlier, according to the administrative price mechanism, prices of petrol and diesel were determined, in which prices were determined at the beginning of every fortnight of the month.