Due to the US-Iran ceasefire, the price of crude oil has fallen from $160 to $100 per barrel. Since this ceasefire is only temporary for 2 weeks, there is no expectation of reduction in the prices of petrol and diesel in India at present.
New Delhi: There is currently a break in the ongoing war between America and Iran. Ceasefire has been announced in both the countries, due to which people have heaved a sigh of relief. Immediately after this announcement, the prices of crude oil have fallen drastically in the international market. The price of crude oil has now come down to $100 per barrel, which had reached $160 during the war. After the fall in crude oil prices, the biggest question now is whether petrol and diesel will be cheaper in India?
the ceasefire is temporary
Due to this ceasefire between America and Iran, the prices of crude oil have fallen by 13 to 14 percent. There was no shortage of petrol and diesel in India during the war, but there were problems in the supply of LPG gas. Now that problem has also been solved. However, experts believe that despite this fall in oil prices, no major reduction in the prices of petrol and diesel is expected in India at present. The biggest reason for this is that this ceasefire is only for two weeks. If the war starts again after two weeks, the situation may worsen. India also needs to accumulate oil reserves to deal with any such situation in future and to keep inflation under control. Therefore, at present there is no possibility of any change in the prices of petrol and diesel in India.
The price of crude oil in the international market has now fallen to around 94 to 96 dollars per barrel. This is considered to be the biggest fall in recent times. India buys most of the oil it needs from abroad. Even in order to compensate for the losses incurred during the war, oil companies will not reduce the prices immediately.
Trying to control inflation
If this ceasefire continues further and a permanent solution is found, then there may be some moderation in oil prices in India. But even then it would not be right to expect a huge reduction. To keep inflation under control, the government will pay more attention to keeping the prices of petrol and diesel stable.
Not only India but all the countries of the world have got relief from the fall in crude oil prices. But if the war starts again, the situation will get even worse. Because if America starts a war again, it will be very destructive, which will badly affect the countries of entire Asia including India.