Petrol and diesel may become cheaper by Rs 10. The biggest reason for this is the fall in the prices of crude oil in the international market. According to media reports, the central government may cut the prices of petrol and diesel in the first week of February.
Crude oil has declined by 12 percent
Talking about crude oil prices, there has been a decline of 12 percent in the last one year. But despite this, the oil companies did not cut the oil prices in the country. Oil marketing companies last cut the prices of petrol and diesel in the year 2022.
Petrol is available around Rs 100 in the country
If we talk about the price of petrol in the country, oil is being sold above Rs 100 in cities like Delhi, Mumbai, Chennai and Kolkata. Whereas in small cities petrol is being sold between Rs 98 and Rs 100. Whereas diesel is being sold at Rs 90 per liter.
Profit of oil companies increased 5 times
These companies are currently earning around Rs 10 per litre. So far in the financial year 2023-24, the profits of Indian Oil (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) have increased by about 5 times.