On Monday, the price of a liter of petrol in the national capital Delhi is Rs. 96.72. Also, the price of a liter of diesel is Rs.89.62. Petrol rate in Mumbai is Rs.106.31 while diesel rate is Rs.94.27. At the same time, a liter of petrol is available at Rs.109.66 in our Hyderabad. Also diesel is recorded as Rs.97.82 per liter. Petrol rates in Visakhapatnam are at Rs.111.23 and diesel rates are at Rs.98.97.
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Crude oil prices, which hit multi-year highs in March after the Russia-Ukraine crisis, have been falling for three consecutive months. Prices are falling due to fears of corona restrictions and interest rate hikes in China. China is the largest importer of crude oil in the world. Slow economic growth in that country has dampened demand for oil. On Monday, the Organization of the Petroleum Exporting Countries (OPEC) and its related countries, OPEC Plus, are meeting today. In this meeting, it seems that a decision is going to be taken to reduce production to support the falling prices. And we have to wait and see what kind of decision these countries will announce.
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