Crude Oil Price Rise : After the start of the Iran war, crude oil prices have seen an increase of about 51 percent, due to which crude oil remains above $ 100 per barrel in the international market. This is also having a direct impact on India, where on one hand oil prices are high and on the other hand the rupee is becoming weaker against the dollar. This double pressure is having an impact on the country’s economy and financial situation. For this reason, recently the prices of petrol and diesel were increased by about Rs 3 per liter. However, experts believe that fuel prices may increase further in the coming time.
According to the data of Indian Oil Corporation (IOCL), there is currently no new change in the prices of petrol and diesel in the major metros of the country. In Delhi, petrol is stable at Rs 97.77 and diesel at Rs 90.67 per liter. Whereas in Kolkata, petrol is Rs 108.74 and diesel is Rs 95.13 per liter. In Mumbai, petrol is priced at Rs 106.68 and diesel at Rs 93.14 per liter, while in Chennai petrol is priced at Rs 103.67 and diesel at Rs 95.25 per liter.
Sharp rise in crude oil prices
According to the data, since February 27, there has been a sharp rise in the prices of crude oil in the international market. Brent crude has increased from $ 72.48 per barrel to $ 109.26 per barrel, which shows an increase of about 51 percent. At the same time, American crude WTI has also increased from $ 67.02 to $ 105.42 per barrel, registering an increase of more than 57 percent.
Rupee falls against dollar
During the same period, the rupee has also declined against the dollar. On February 27, the rupee was at the level of 91.08, whereas now it has weakened by more than 5 percent. The rupee had closed at 95.81 on May 15 and its decline continued in recent trading sessions.
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