Petrol Diesel Price in India: In India, the prices of petrol and diesel have been increased four times in the last 15 days. People are suffering from increasing inflation day by day. The reason for this is the ongoing war between Iran and America for the last three months and the Hormuz crisis. But now the people of the country are hopeful of getting some relief from the rising prices of petrol and diesel.

A recent statement by US President Donald Trump has created a stir in the oil market all over the world. Trump has said that the US Army is ready to lift the blockade from the Strait of Hormuz. Understand what effect this statement of Trump will have on the rising oil prices in India.

What has Trump said?

In fact, Trump has said that Iran will have to give up its intention of making a nuclear bomb at any cost. Along with this, he announced that the Strait of Hormuz will be immediately opened for shipping on both sides without any tax and obstruction. Trump claimed that the US Navy has destroyed the mines laid there and the ships that were stranded there can now return to their homes.

Will the pockets be loose from June 1 or will there be relief? These big changes are going to happen from LPG cylinders to banks

So will petrol and diesel be cheaper in India?

This decision of Trump can have a direct and big impact on the prices of petrol and diesel. If the blockade from Hormuz is completely lifted, then there will be every possibility of petrol and diesel becoming cheaper in India.

There are three reasons for this…

First- With the road being cleared, the supply of crude oil in the world will increase. When the supply increases, the prices of crude oil will fall in the global market.

Second- The insurance and freight charges on ships, which were skyrocketing due to the threat of war, will now be reduced. This means that it will be cheaper for India to import oil.

third- It is clear from Trump’s statement that the way for talks with Iran is also opening. If Iran agrees to America’s demands, prices may come down more rapidly.

Where can the screw get stuck?

However, it is important to understand one thing. As soon as the price decreases in the international market, petrol does not immediately become cheaper in India. It will depend on how quickly India’s government oil companies pass on the benefits of this decline to the general public. Also, if the government does not increase the tax on this occasion, then in the coming days you may see a big relief in the prices of petrol and diesel.

Flights Alert: Around 250 domestic flights will be closed every day from June, Delhi-Mumbai and Bengaluru are most affected.

How expensive has petrol and diesel become in India?

The prices of petrol and diesel were last increased in India on May 25. On May 25, petrol became costlier by Rs 2.61 paise and diesel by Rs 2.71 paise. In the last 15 days, petrol in the country has become costlier by Rs 7 35 paise and diesel by Rs 7 53 paise per litre. Along with oil, the prices of CNG have also increased in Delhi-NCR.