What is the price of petroleum oil (oil)?

Petroleum OIL (OIL) price has increased today. The price of Petroleum OIL (OIL) is $0.650285 today with a 24-hour trading volume of $5.13. This represents a 0.20% price increase in the last 24 hours and a 20.44% price increase in the past 7 days.

What are crude oil and petroleum product prices?

Crude oil and petroleum product prices are the result of thousands of transactions taking place simultaneously around the world at all points in the supply chain—from the crude oil producer to the individual consumer. Oil markets are essentially a global auction—the highest bidder will win the available supply.

What is the retail price of petrol based on?

The retail price of petrol is based on crude oil price, the OMC margin, transportation cost, freight costs, central government taxes, state government taxes, excise duty and few other taxes.