Prime Time Zone, Webdesk: Oil prices are on fire again. It seems that these prices will be even heavier in the next few days. Prices, which have been stable for the past 30 days, rose by 26 paise on Wednesday. Along with petrol, diesel also went up by 25 paise. According to market sources, this is due to the rise in crude oil prices in foreign markets.
Crude oil prices rose to 5 per cent after February, as crude oil prices rebounded by 5 per cent in foreign markets on Tuesday. Market analysts attributed the rise to higher domestic petrol and diesel prices. It is known that Russia, along with OPEC, has been implementing forts in oil production for three years.
Oil demand has recently declined as a result of last year’s trade disputes between the US and China, the slowdown in the global economy, and the corona crisis. Production and export countries are trying to control oil prices. At a recent two-day virtual meeting, Saudi Arabia said it was ready for additional oil production cuts. As a result, prices are likely to rise again. A liter of petrol will cost Rs. 87.34 while diesel was priced at Rs. 80.88.