Government will remove reserve oil, but will petrol and diesel be cheaper?

Petrol-Diesel Price: You are going to get some relief from expensive petrol-diesel soon. Experts are also pointing in the same direction.

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Petrol-Diesel Price: Many countries including America, China, Japan have decided that they will release their strategic reserve of oil so that the price of crude oil can fall. Now you will think that how will this reduce the price of oil? We tell you…

If you are thinking that crude oil has fallen, the government is planning to release oil from Strategic Oil Reserve, then the prices of petrol and diesel will come down further and you will get some relief. So sir, this dream of yours is just going to remain a dream. Governments play in these things and you don’t even know.

You were happy that look how your government gave you a big relief on oil in one stroke, you could not understand that when crude oil was rising, the prices were increasing every day, but now when the prices are falling, the oil companies not reducing prices

Will there be relief in the coming days?

It does not seem that you are going to get any relief from expensive petrol and diesel anytime soon. Experts are also pointing in the same direction.

Former ONGC CMD RS Sharma says, “USA has a strategic oil reserve of 600 million barrels, while China has about 3 months of oil reserves. India does not have such a large strategic reserve.

India is the world’s third largest oil importer, but India has reserves of only 38 million barrels. Petrol in Delhi is currently running at Rs 103.97 and diesel at Rs 86.67.

Deepak Mahurkar, leader, Oil and Gas Sector, PWC, says, “I do not see any reduction in petrol and diesel prices in India for the next 3-4 months.”

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