So petrol will be Rs 385 per liter? Oil could ruin the math of the Indian economy
Petrol Diesel Price: The price of petrol in India can reach Rs 385 per liter. This will happen when Russia reduces crude oil production.
Price of petrol and diesel: Rising and falling prices of petrol and diesel affect every citizen of the country. The last few days have seen some relief in petrol and diesel prices. But this relief will not last long. It also happens that petrol and diesel are beyond the reach of the common man. Russia could ruin the math of oil all over the world. If Russia cuts crude oil production, the whole world will suffer. Russia's possible move could push petrol and diesel prices around the world and drive up inflation. Let us tell you how Russia can spoil the oil math of India as well as the whole world.
There can be a lot of resentment with Russia
In fact all the countries of the world are annoyed with Russia because of the war with Ukraine. The United States and European countries have also expressed their displeasure with Russia. All global sanctions have been imposed on Russia. The recent G7 summit in Germany discussed the imposition of global sanctions on Russia over its war with Ukraine and took some important decisions.
Experts have warned this
After which, analysts believe that Russia could put the whole world in trouble. According to analysts at JPMorgan Chase & Co., Russia may reduce crude oil production in response to sanctions from the US and European countries. This could lead to a sharp rise in petrol and diesel prices across the world. Speaking of India, petrol is currently being sold here at around Rs 100 to Rs 110 per liter. Diesel is being sold at Rs 100 per liter. If Russia reduces crude oil production, petrol prices in the country could rise by Rs 385 per liter. Diesel prices could rise significantly. This is because the price of petrol and diesel in the country is determined on the basis of the price of crude oil.
Petrol price Rs 385 per liter?
If Russia reduces its production of crude oil by 3 million barrels per day, the price of crude oil on the London benchmark will reach $ 190. If Russia reduces crude oil production by 5 million barrels, its price will reach 80 380 per barrel. Purchasing crude oil in India at 380 a barrel could triple the price of petrol. This means that if something like this happens, the price of petrol in India will reach Rs 385 per liter.
29-Sep-2024