US oil prices fall below zero for the first time

Coronavirus has shown what has not happened in the last three and a half months. The price of crude oil has gone down to zero. American crude oil prices have dropped historically.

In the US, crude oil prices fell to -3.70 dollars on Monday on reduced demand from the corona. What is the benefit to India? So India is dependent on Brent crude, not WTI's US crude.

Brent crude is still trading above २० 20. This will have no effect on US oil prices in India. However, it is important to see how the falling price of crude oil affects India.

India is a major importer of crude oil. Eighty-five per cent of the total oil demand is imported from the Gulf countries. This will benefit India if crude oil prices fall.

When oil becomes cheaper, imports are not reduced. So India reads foreign exchange and the amount is less. This gives the rupee an advantage. The rupee is stronger against the dollar and inflation is under control. Therefore, when the price is low in the external market.

When crude oil prices fall by डॉलर 1, India has to pay २ 29,000 crore less for imports. That means if $ 1 is reduced, then there is a huge savings of $ 1,949,000. It also affects petrol and diesel prices.

When crude oil prices fall, petroleum prices fall as well. This can make petrol and diesel cheaper.

Crude oil prices fell by डॉलर 1, while petrol and diesel prices fell by 50 paise. On the contrary, if the price of crude oil goes up, the price increases by 5 paise a dollar. General Chat Chat Lounge.

आजचे दर

Due to the lockdown, most people will not be aware of today's rates for petrol and diesel. Crude oil prices have fallen sharply over the past month to 20 a barrel.

However, petrol and diesel prices have not been reduced by a single penny since last month. On the contrary, the Maharashtra government has increased the tax by Rs 1 from April 1. In Mumbai, petrol is priced at Rs. 5 and diesel at Rs.