New Delhi. Be prepared to bear the shock of inflation in the coming days. The reason for this is the continuous increase in the price of crude oil. Due to the increase in the price of crude oil, there is a possibility that the government may increase the price of petrol and diesel in the coming days. Due to the increase in the price of petrol and diesel, the transportation rates of essential commodities also increase and due to this people have to face inflation. So let us tell you how much increase has been recorded in the price of crude oil.
On Tuesday itself, the price of crude oil had increased by $ 1 per barrel. After this, the price of crude oil reached a 2-month high on Wednesday. According to the information, the price of August delivery of Brent crude on Wednesday rose to $ 85.53 per barrel. The price of September delivery is at $ 84.74 per barrel. That is, both have seen an increase of 20 and 21 cents. The price of American West Texas Intermediate Crude has also increased by 3 cents. Its price was $ 81.60 per barrel on Wednesday. The price of crude oil was very low in early June, but it kept increasing continuously. As a result, the price of a barrel of crude oil has increased by $ 8 so far.
The ongoing war between Russia and Ukraine and the turmoil in West Asia due to Israel’s military action against Hamas are believed to be the reason for the increase in the price of crude oil. Despite the continuous increase in the price of crude oil, there has been no increase in the prices of petrol and diesel in India. The reason for this is that there were Lok Sabha elections recently. Now a new government has taken power. If the price of crude oil continues to increase, then the oil companies will have no choice but to increase the price of petrol and diesel. However, till now the Modi government has not let much burden fall on the public by buying crude oil from Russia at a low price, but it remains to be seen what decision it takes in the current situation?