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They Have at Least Three Reasons Why Petrol Prices Drop

About Total 14.21 decreased by Rs during the two and a half months in the price of gasoline. National due to the decrease in oil prices, but also internationally.

  1. Reduction in oil prices in international market

During the last two months, there has been a decrease in oil prices in the international market. On October 4, when oil prices in Delhi were per liter 84, were dollars per barrel price of crude oil 84 in the international market. On December 27, 20l8 when oil prices in Delhi were 69.79 rupees, oil prices per barrel to $ 58 in the international market.

  2. Open new oil fields in Libya

Production of crude oil in the international market has increased. Libya has grown as oil-producing output in the country, which went to increase the amount of crude oil in the market. That is because the new oil in Libya has opened the field and this has caused a reduction in the price of oil. Also, the US and Russia have reduced production of oil.

 3. Low demand in the international market

Oil prices in the international market went up the volume of less of oil. There also seems little slowdown internationally, which is why oil demand went down. Also has strengthened the position of the rupee against the dollar in the country and oil prices in India are now reduced.

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