Petrol Diesel Prices, Crude oil prices are skyrocketing amid the ongoing war between Russia and Ukraine. The price of Brent crude in the international market today touched the level of $138 per barrel. In this context, the price of crude oil has reached a high level in the last 14 years. On the other hand, American crude oil has also reached $125. Apart from this, the rupee has also come down to a low of 77 per dollar. In such a situation, it is feared that the price of petrol and diesel in India is expected to increase by 25 to 30 rupees per liter.
Crude oil costlier by 110% in last 98 days
Let us tell you that in December last year, the price of crude oil was around $ 65.80 per barrel and since then the prices of petrol and diesel have not increased in India domestically. Crude oil today has crossed $ 138 a barrel since its low of 65.80 in December. In just 98 days, crude has become expensive by 110 percent and during this time the price of petrol and diesel remained stable. In fact, due to the election environment in five states in the country, there was not much change in the prices of petrol and diesel. But now after the election is over, it is feared that perhaps soon the prices of petrol and diesel in the country may increase.
Huge turmoil in the international market
According to Ajay Kedia, director of Kedia Commodity, the price of crude oil is increasing continuously in the international market. Apart from this, the rupee on futures has come down to Rs 77 per dollar for the first time since April 2020. For this reason, the foreign exchange reserves are also falling continuously. All these factors can lead to a sharp increase in the prices of petrol and diesel. In some cities, the price of petrol and diesel can go up to Rs 150 per liter in poor condition.
Posted By: Sandeep Chourey