Publish Date: | Tue, 08 Mar 2022 08:29 AM (IST)
#PetrolDieselPriceHike: Now common people of India will have to pay the cost of Russia-Ukraine war. The news is that after reaching a record level of crude oil, the government and government oil companies in India have started churning to increase the prices of petrol and diesel. It is being estimated that the oil companies may be allowed to increase the price by Rs 5 to 6 per liter from the government. Voting for the assembly elections in five states is over and if the government takes such a decision, then it will not suffer any loss from the electoral point of view. It is also being said that there is a need to increase the price by Rs 12 per liter, but instead of increasing the price at once, the government will increase the price in pieces. Let us tell you, after November 4, the prices of petrol in the country have not been increased. Then after the crude oil crossed the mark of $ 83 a barrel, the central and state governments had cut taxes to provide relief.
Impact of crude oil, investors’ wealth decreased by 11 lakh crores
The effect of crude oil prices reaching record highs was visible on the stock market around the world. On Monday, where the Sensex fell by 1,491 points due to all-round selling, the Nifty also closed below 16000. According to experts, the rupee’s all-time low against the US dollar and selling of foreign funds acted to drag the market further down. Foreign institutional investors (FIIs) continued selling in the market and sold shares worth Rs 7,631.02 crore on Friday, according to exchange data. The effect of the fall in the Indian stock market has also been visible on the wealth of investors. Investors’ wealth has decreased by Rs 11.28 lakh crore in four trading days. Talking about the market cap of companies listed on BSE, it has come down by Rs 11,28,214.05 crore to Rs 2,41,10,831.04 crore.
Posted By: Arvind Dubey