Crude Oil Price Today: Crude oil slipped below $ 80 per barrel, and now petrol-diesel will be cheaper!


Posted on 7th Dec 2022 06:23 pm by rohit kumar

Crude Oil Price: There is news of great relief for India. Crude Oil Price has rolled to the lowest levels of 2022. In the wake of the Global Economic Crisis, the price of Brent crude oil has dropped below $80 per barrel due to deteriorating sentiment. The price of Brent Crude Oil is trading at $78.65 per barrel. So the WTI Crude price has dropped to $73.49 per barrel.

 

Crude oil slips below $80

This is the second time in 2022 that Brent crude oil has slipped below $80 per barrel. There has been a big decline in crude oil due to the possibility of increasing the interest rate of the Federal Reserve and the possibility of a recession. The strict monetary policy of the central banks around the world is also affected. In India, RBI has increased the repo rate for the fifth time due to high inflation. On the other hand, service-sector activity in China has fallen to a 6-month low. So there is a possibility of a major decline in the economic growth rate in European countries due to high energy prices and high debt. Due to all these reasons crude oil is under pressure. In the current year, due to the Russia-Ukraine War, crude oil had reached the level of $139 per barrel. This means the prices have come down from their high to $61 per barrel.

 

This will help in reducing the financial loss

A fall in crude oil is an auspicious sign for India. Because India imports 80 percent of its crude oil consumption. Where the fall in the prices of crude oil will help in reducing inflation. At the same time, the central government will get help in reducing its financial deficit. This will also prevent the decline in foreign exchange funds.

 

There may be a reduction in the prices of petrol and diesel

Consumers can get a major benefit from the fall in the prices of crude oil. Government oil companies can reduce the prices of petrol and diesel in the coming days. If the price of diesel decreases, the freight will be cheaper, due to which the effect can be seen in the prices of many items.

 

Also Read: Petrol Diesel Price Today: Oil companies released the prices of petrol and diesel, know the prices of your city

1 Like 0 Dislike
Previous news Next news
Other news

Supreme Court refuses to hear NEET dispute, gives this reason for not issuing notice to investigating agencies

The Supreme Court on Monday refused to give an urgent hearing to a petition seeking a CBI and ED

Razzaq-Aishwarya: After insulting Aishwarya Rai, Razzaq apologized, and said- I am ashamed of the statement

Former Pakistani cricketer Abdul Razzaq has apologized after insulting actress Aishwarya Rai. Raz

SRH vs CSK: Not Ruturaj Gaikwad, this player will change the luck! You can bet on these eleven players

Sunrisers Hyderabad (SRH) and Chennai Super Kings (CSK) will be eyeing a winning comeback when th

CM warned: If there is any jam anywhere due to Maha Kumbh, the officers will be responsible, they should be in the field at all times.

Taking cognizance of the devotees going to Varanasi and Ayodhya after bathing in Prayagraj Mahaku

Waqf Board: 994 Waqf properties are occupied across the country, this state has seen the most encroachment

The Central Government on Monday (9 December 2024) gave important information related to the prop

Arijit Singh's Birthday: He was thrown out of the singing reality show, and then Arijit Singh became the king of the music world.

Singer Arijit Singh, who has lent his voice to countless songs like 'Kesariya', 'Satranga',&

Rajinikanth's Net Worth: Marriage hall worth 20 crores, car worth 16.5 crores...these are the most expensive things of superstar Rajinikanth

South superstar Rajinikanth will celebrate his birthday on December 12. Rajinikanth has seen a lo

WC Qualifiers: Asif Khan created a ruckus by raining fours and sixes, made a big record by scoring a century against the USA

There is a clash between UAE and USA in the Super Six of the ICC Qualifier. Batting first, UAE sc

Erdogan assures early reconstruction of Turkey, the death toll from devastating earthquake crosses 35,000

President Tayyip Erdogan, standing just a few steps away from the election, has promised that he

Weather News: U-turn of weather in North India! Mercury dropped in many states including Delhi-UP, read the latest updates

The weather has taken a U-turn in North India. It is getting cold in many states including Delhi,

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash