Petrol-Diesel | Good News! Petrol and diesel prices may come down soon, know when ‘cheap oil’ will be available

New Delhi. According to the big news about petrol-diesel and according to government sources, Oil Marketing Companies (OMC) can now reduce the prices of petrol and diesel (Petrol-Diesel Price Cut). Yes, if sources are to be believed, the companies have almost recovered their losses and have also reached close to normalcy. Crude prices may soften in Q2 of FY2024, in fact it shows from their positive quarterly results. Because of which it is now expected that the companies will reduce the prices of petrol and diesel, because now they will not have to face under-recovery in fuels. It is being said that, if the next quarter of these companies If it is good for you, then there is every possibility of a price cut. Along with this, experts believe that the price of crude may remain soft in the second quarter of FY2024. The price has not changed since the last 13 months It is noteworthy that the price of petrol and diesel has not changed since the last 13 months. And the last price cut was on 22 May 2022. On the other hand, according to the information received from the source of the Ministry of Petroleum on the matter, there is less hope of imposing windfall tax on petrol and diesel again. By the way, the notification issued regarding windfall tax is applicable from May 16. In that decision, the government had reduced it on crude from Rs 4100 per tonne to zero. The windfall tax on petrol, diesel and ATF is already zero before that, softening of crude will benefit, if seen on the other hand, due to this upcoming softening of crude, oil marketing companies can have a place to reduce the price, which will now directly benefit the general public. Who will Due to this, it is believed that the price of petrol and diesel may decrease in the next few months. Presently there is sufficient supply of oil in the market.