In the coming days, the country is likely to see a severe hit of inflation. Petrol-diesel prices are not taking the name of stopping. When you open your eyes on Saturday morning, the price of petrol and diesel will have increased by 80 paise. Like Friday, there is news of an increase of 80 paise in the price of petrol and diesel on Saturday. It is worth noting that since March 22, the prices of petrol and diesel have increased by Rs 7.20 so far. The price of petrol in the capital Delhi has hit a century. Petrol will be available at 102.61 paise and diesel 93.87 paise per liter in Delhi from Saturday morning.
Significantly, due to the Russo-Ukraine war, the rising crude oil prices around the world have started now. Crude oil has come down to $100 per barrel in the international market today. On the other hand, India has bought a large amount of crude oil from Russia. Russia, which is facing economic sanctions around the world, has given crude oil to India at a huge discount rate. Despite this, the price of oil in India is not taking its name. The government is also saying that India has bought a lot of oil from Russia at a discount rate, but the public does not seem to be getting its benefit.
On one hand, it should also be assumed that the oil deal with Russia will take time to reach India and the oil companies are selling the oil at the increased prices which they had bought earlier. Still, it is beyond comprehension why the customers are not getting the benefit of the falling oil prices in the international market.
Oil prices are directly related to inflation. Vegetables, milk, fruits, everything reaches through trucks across the country. If oil prices increase, transportation will increase, and if transportation increases, the price of goods will increase. Overall, there is every possibility of severe inflation in the country in the coming days.