2024-07-12 03:12:16
New Delhi: Russia is our biggest oil supplier. Indian companies pay for the purchase of crude oil and other commodities in dirhams or rupees. Russian banks convert it into local currency rubles and pay the supplier. But they charge a hefty fee for this work. But now this situation is going to change. The reason for this is that Russia’s government bank Sberbank has agreed to negotiate a reduction in this high transaction fee. Other Russian banks may also agree to this. This claim has been made in a Mint report quoting sources. This may lead to a fall in the price of petrol and diesel in the country. After the Ukraine war, Western countries stopped importing oil from Russia. Russia offered crude oil to India at a discount. Because of this, Russia has become India’s biggest supplier. But in recent times, this discount has reduced considerably. Sberbank was initially charging an additional four percent premium from Indian companies. But now it is ready to reconsider it. A rupee-ruble currency conversion mechanism was agreed upon between the central banks of the two countries but it has not been implemented yet. This is because neither of these two currencies is fully convertible.
Now this country is getting the cheapest petrol, not Venezuela, tank gets filled in less than 75 rupees
how much is the price
It is expected that after getting relief from Russian banks, the price of petrol and diesel in the country may fall. This will also provide relief from inflation. There has been no change in the price of petrol and diesel in the country since March. Before the general elections, the government has given relief to the common people on petrol and diesel. Then the price of petrol and diesel was reduced by two rupees per liter across the country. The price of petrol in Delhi is Rs 94.72 and the price of diesel is Rs 87.62. But in many cities, petrol is available beyond Rs 100.