Coronavirus wreaks havoc in China's but India is benefiting from it Here's how

Feb 17 2020 03:56 PM
Coronavirus wreaks havoc in China's but India is benefiting from it Here's how

Mumbai: It has been more than a month since the outbreak of Coronavirus. This has severely severed China's economy. But meanwhile, the good news is that the terror of this virus has started giving you direct benefits. Strange to hear, but it is true. Yes, since the Coronavirus has spread in China, the prices of petrol and diesel have decreased in India. It is hoped that you will continue to benefit from this in the coming days.

In the global market, crude oil prices returned sharply last week, but due to the havoc of Coronavirus in China, the demand for oil is soft, there is no hope of a rise in prices. At the same time, the International Energy Agency (IEA) estimates that global consumption demand for crude oil in the first quarter of this year may decrease by 4.35 lakh barrels compared to the previous year. In the last one month, the price of petrol has reduced by two rupees.

Petrol may be cheaper by four rupees in the coming two weeks. The coronavirus havoc in China has taken the form of an epidemic and more than 1,600 people have died in its grip. Oil-producing countries, OPEC and Russia hinted at additional cuts in crude oil production, led to a spurt in prices last week, but experts say prices may remain under pressure due to reduced demand.

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