Sunday, February 28, 2021
  • About us
  • Contact
  • Privacy Policy
  • Sitemap
Business Khabar
  • World
  • Latest News
  • Business
    • Automotive
    • Industries
    • Opinion
  • Market
  • Tech
  • Money
    • Finance
    • Insurance
    • Investments
    • Schemes
  • Startups
  • Other
    • Top Stories
    • Entrepreneur
    • Career
    • Real Estate
No Result
View All Result
Business Khabar
  • World
  • Latest News
  • Business
    • Automotive
    • Industries
    • Opinion
  • Market
  • Tech
  • Money
    • Finance
    • Insurance
    • Investments
    • Schemes
  • Startups
  • Other
    • Top Stories
    • Entrepreneur
    • Career
    • Real Estate
No Result
View All Result
Business Khabar
No Result
View All Result
Home Business Industries

Oil will be more expensive by March, petrol is cheaper than India in neighboring countries

Business News by Business News
January 27, 2021
in Industries
0
know here the reason why petrol and Diesel Price on Record High gold crude ratio down and corona vaccine is positve to increase price
584
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

You might also like

SBI Ecowrap Report: GDP to fall by 8% in FY21; growth in agriculture other than agriculture

Three Indians among world’s most ethical companies, 9 companies made first place

Mutual Fund: Sensex breaks 3400 points in 10 days; Opportunity for mutual fund investors? Adopt this strategy

Cheap petrol is being sold from India in neighbouring countries.

Petrol and Diesel Price on Record High: Petrol and diesel are continuously setting new records in the country. Today, on January 23, the price of petrol in Ganganagar, Rajasthan reached Rs 97.47 per liter, that is, very close to the price of Rs 100 per liter. Diesel is also priced at Rs 89.19 per liter. The biggest reason for the rise in the price of oil in India is heavy tax because the rates of Brent crude oil are running around 50 and cheaper oil is being sold from India in neighboring countries. Out of the price we pay for oil, 62 per cent is taxed. There is little hope that oil will soon become cheaper because after the introduction of the corona vaccine, now everything is coming back on track, then the consumption of oil will increase and as a result its demand will increase.

About three years ago, when Brent crude oil was at a price of about $ 75 per barrel, there was also petrol near Rs 75 per liter. At the moment the crude is close to $ 50 per barrel, the prices of petrol are increasing to Rs 100 per liter.

Petrol-Diesel Price: Petrol, diesel at record highs in many cities including Delhi, Mumbai; Price in country crosses Rs. 98

Petrol will soon cross 100

Economic activity is expanding after the introduction of the Corona vaccine. Due to this, the demand for oil will increase. Regarding this, Anuj Gupta, Vice President (Commodities and Research), Angel Broking, says that by the first quarter of 2021 this year, by March, the price of one barrel crude can go up to $ 55. According to Anuj Gupta, if the price of crude increases, petrol prices can soon cross 100 because now almost all companies, schools, colleges and transportation have started, then its consumption will increase. At this time also, due to increasing consumption of oil, its price is gaining momentum.

Crude price up to $ 60 a barrel by June

According to the US Energy Information Administration (EIA), by the first half of June of 2021, Brent crude prices could go up to $ 60 per barrel. The EIA estimates that the Organization of Petroleum Exporting Countries (OPEC) and allied countries (OPEC Plus) may limit oil production under the partnership. Saudi Arabia has announced that it will cut oil production by one million barrels per day in February and March. Despite this cut, the EIA estimates that OPEC will produce more oil this time than last year and 272 million barrels per day in 2021 this year, compared to an average of 25.6 million barrels per day in 2020.

KCC: Kisan Credit Card has many benefits; 12 lakh farmers are going to be released, apply this way

Consumption signs showing the decline in Gold-Crude Ratio

According to Kedia Commodity Director Ajay Kedia, the economy is expanding and its signal can be seen from the gold-crude ratio. In this ratio, gold means uncertainty and by the economic expansion of crude, that is, if the ratio is high then the economic uncertainty is increasing and if the ratio is low then the economic expansion is happening. Crude consumption increases in economic expansion. The ratio was 91.12 in April 2020, when there was a global outbreak of Corona epidemic and crude prices went to the lowest level. However, gradually the economy started coming back on track and economic activity increased.

At this time the ratio is 35.12 i.e. the consumption of crude has increased. This ratio was 24.94 in December 2019 and 30.66 in January 2020. According to Ajay Kedia, the reduction of this ratio means that there is no longer any possibility of economic uncertainty among people and economic expansion is taking place. Due to increasing consumption, its price is gaining momentum.

We pay 62% tax for petrol

Oil is so expensive because the tax on it is high. The retail price of petrol in the capital of Delhi was Rs 84.7 on January 16. If you break it up, then the base price will be Rs 28.13 and the cost of rent (freight) is Rs 0.37 i.e. petrol is Rs 28.5. After this, dealers have to pay excise duty of Rs 32.98 and VAT of Rs 19.55 (includes VAT on dealer commission). The average commission of the dealer was Rs 3.67. Adding to all this, the price of petrol was Rs 84.70 per liter on 16 January 2021. In this way, a tax of Rs 52.53 was levied on one liter of petrol i.e. 62 percent.

The story of this man, who earned 18000 crores without any capital investment, is full of inspiration.

In 2018, the central government gave relief in excise duty

The biggest challenge before the central government is to get rid of the inflation of oil. People urged the government to cut taxes. Earlier in October 2018, when oil prices reached a record high, the government had reduced excise duty on petrol and diesel by Rs 1.50 per liter. Apart from this, the government oil companies also gave relief to the people by deducting an additional one rupee per liter. However, this time there is no hope as the government needs revenue to handle the economy badly affected by the corona epidemic. Earlier this week, oil minister Dharmendra Pradhan blamed Saudi Arabia’s decision to cut oil production over rising oil prices.

Cheap petrol from India in neighboring countries

According to the data given on gasoline petrolprices.com, cheaper petrol is being sold from India in neighboring countries. Petrol prices have been given on the website on 18 January. On that day, petrol in India was priced at Rs 87.87 per liter. Comparing this with neighboring countries, on January 18, per liter was Rs 49.87 in Pakistan, Rs 49.56 in Bhutan, Rs 61.37 in Sri Lanka, Rs 68.84 in Nepal, Rs 74.14 in China and Rs 77.01 in Bangladesh. In all countries, the price of petrol has been changed to Indian rupee. The cheapest petrol in Venezuela was sold at Rs 1.46 and in Hong Kong, it was Rs 172.66.
Talking about diesel, on January 18, the price of diesel was Rs 79.29 per liter. Talking about the neighbouring countries, the price of diesel per liter was Rs 39.64 in Sri Lanka, Rs 46.31 in Bhutan, Rs 51.7 in Pakistan, Rs 56.25 in Bangladesh, Rs 58.20 in Nepal and Rs 64.54 in China. The most expensive per liter diesel sold in Hong Kong for Rs 145.38 and the cheapest in Iran for Rs 8.75.

Phone numbers of more than 60 lakh Indian Facebook users are being sold, messing with privacy through telegram

Tags: ajay kediaangel brokinganuj guptacheapest petrol prices in indiacostly petrol dieseldiesel price in chennaidiesel price in delhidiesel price in gangangardiesel price in kolkatadiesel price in mumbaiDiesel prices in chennaiDiesel prices in delhiDiesel prices in GanganagarDiesel prices in KolkataDiesel prices in mumbaigold crude ratiokedia commodityPetrol price in chennaipetrol price in DelhiPetrol price in Ganganagarpetrol prices in chennaipetrol prices in delhipetrol prices in gangangarpetrol prices in kolkatapetrol prices in mumbaiwhat is gold crude ratio
Business News

Business News

We aim to constantly bring to you all the latest and most updated industry news across all major categories. With a wide variety of topics and categories under our umbrella, we bring to you the latest news and activities in the top sought areas of public interest.

Related Posts

SBI Ecowrap Report forcasts 8 percent decline in gdp in fy21 and growth in agriculture sector
Industries

SBI Ecowrap Report: GDP to fall by 8% in FY21; growth in agriculture other than agriculture

by Business News
February 27, 2021
infosys tata steel and wipro enlisted in world most ethical companies list
Industries

Three Indians among world’s most ethical companies, 9 companies made first place

by Business News
February 27, 2021
Mutual Fund Strategy
Industries

Mutual Fund: Sensex breaks 3400 points in 10 days; Opportunity for mutual fund investors? Adopt this strategy

by Business News
February 27, 2021
Amazon Summer Offer summer appliance fest started from 26 feb to 28 FEB check here offers on ac fridge cooler
Industries

Amazon Summer Offer: AC-Fridge Shopping Starts For Summer, Get Up To 10% Off At Summer Festival Of Amazon

by Business News
February 26, 2021
Mid & Small Size bank Stocks
Industries

These 3 midcap bank stocks can give investors good earnings, but stay away from these stocks

by Business News
February 26, 2021

Recommended

IPO Market in March 2021

IPO March 2021: March is earning money; These companies, including MTAR, Lakshmi Argonics, may come for IPOs

February 28, 2021
Keep these important things in mind before investing in digital gold investment tips

Digital Gold: Know these things before buying digital gold, you will get better return on investment

February 28, 2021
Maruti Suzuki exports over 2 million cars More than 14 models being sent to 100 countries

Maruti Suzuki has touched the milestone of exporting 2 million cars, 14 models are exported to more than 100 countries

February 27, 2021

Don't miss it

  • All
  • Startups
  • Share Market
  • Entrepreneur
IPO Market in March 2021
Share Market

IPO March 2021: March is earning money; These companies, including MTAR, Lakshmi Argonics, may come for IPOs

February 28, 2021
Keep these important things in mind before investing in digital gold investment tips
Money

Digital Gold: Know these things before buying digital gold, you will get better return on investment

February 28, 2021
Maruti Suzuki exports over 2 million cars More than 14 models being sent to 100 countries
Automotive

Maruti Suzuki has touched the milestone of exporting 2 million cars, 14 models are exported to more than 100 countries

February 27, 2021
Kerala Pinarayi Vijayan govt declares online rummy illegal amends Gaming Act directed by kerla high court on film director plea
India

Online Rummy Banned: Kerala banned online rummy, High court sent notice to Virat Kohli and actress Tamanna

February 27, 2021
SBI Ecowrap Report forcasts 8 percent decline in gdp in fy21 and growth in agriculture sector
Industries

SBI Ecowrap Report: GDP to fall by 8% in FY21; growth in agriculture other than agriculture

February 27, 2021
Covid19 vaccination Phase 2 know here id proof required to get vaccinated and private hospital charge per dose and how to registered
India

Covid19 Vaccination Phase 2: These documents are necessary to get Corona vaccine, registration will be done in three ways

February 27, 2021
Covid Vaccination Phase 2 Centre mulls allowing private hospitals to charge Rs 100 per dose
India

Covid Vaccination Phase 2: A dose of corona vaccine in a private hospital for Rs 100! The central government is considering for the second phase

February 27, 2021
Countdown begins for PSLV-C51 Amazonia-1 mission and isro started one more mission to launch gsat 1 know here the details amazon deforestation
India

Countdown start of PSLV’s 53rd mission, will keep an eye on Amazon jungles

February 27, 2021
Business Khabar

Business Khabar provides the latest news about market, financial, tech, sports and business news from around the world.

Learn more

Categories

  • Automotive
  • Business
  • Car & Bike
  • Career
  • Entrepreneur
  • Fashion
  • Featured
  • Finance
  • Food
  • Health
  • India
  • Industries
  • Insurance
  • Investments
  • Lifestyle
  • Money
  • Opinion
  • Real Estate
  • Schemes
  • Share Market
  • Startups
  • Tech
  • Top Stories
  • Travel
  • World

Important

JIOMART FASHION

BUSINESS PLAN

ATUM 1.0 BIKE

UPCOMING IPO

VEGETABLE BUSINESS

MARUTI UPCOMING CARS

BUSINESSMEN STORY

Nureca IPO

BUSINESS AFTER LOCKDOWN

IPL COACH SALARY

CSC REGISTRATION

Recent News

IPO Market in March 2021

IPO March 2021: March is earning money; These companies, including MTAR, Lakshmi Argonics, may come for IPOs

February 28, 2021
Keep these important things in mind before investing in digital gold investment tips

Digital Gold: Know these things before buying digital gold, you will get better return on investment

February 28, 2021
Maruti Suzuki exports over 2 million cars More than 14 models being sent to 100 countries

Maruti Suzuki has touched the milestone of exporting 2 million cars, 14 models are exported to more than 100 countries

February 27, 2021

Copyright © 2020 Business Khabar

No Result
View All Result
  • Home
  • Larest News
  • World
  • Share Market
  • Business
    • Automotive
    • Industries
    • Startups
    • Entrepreneur
  • Tech
  • Money
    • Schemes
    • Investments
    • Finance
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Travel
  • Reviews
    • Car & Bike
  • Top Stories
  • Real Estate
  • Contact Us
  • About us

Copyright © 2020 Business Khabar

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.