Corona: LPG could be cheaper with new strain in crude oil market

Gasoline and diesel prices are likely to remain stable for the rest of the day, while LPG prices are likely to ease. This is because a new variant of the corona virus has emerged. The effect of this variant is being seen in the oil market worldwide. With the advent of new variants, the price of crude oil has come down sharply worldwide. W.T.I. Raw Oil prices have fallen by as much as 13 per cent. This is the biggest decline in the last 20 months. There has also been a decline in Brent crude oil prices. Not only has India not escaped this variant, the Indian futures market has also seen a decline in the price of crude oil.

Brent crude is trading at .5 9.5 a barrel. Brent crude oil prices fell 11.55 per cent. After the fall, the price of a barrel of oil has risen to .7 72.72 a barrel. There’s also the US crude oil WTI. It has declined by 13.06 per cent. After that, the price of US crude oil has risen to 68 68.15 per barrel.

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