Petrol may be Rs 100 per liter soon!
Monday - September 17, 2018 4:34 pm ,
Category : WTN SPECIAL
Central government may reduce petrol prices by reducing tax
Petrol reaches near ‘century’ after rising crude oil price and weakened rupee against dollar
SEP 17 (WTN) - The price of petrol in the country is steadily rising. In Maharashtra, one liter petrol has reached Rs 91.5 per liter. The questions are being raised whether the price of petrol in the country can be Rs 100 per liter? According to international business experts, if international developments remain the same, then in the coming days, petrol in India could be Rs 100 per liter.
The biggest reason for the increasing in petrol prices in India is the rising in the crude oil prices in the international market, and the dollar‘s being strong compared to the rupee. For your information, let you know that one year ago, Brent crude price was $ 55 per barrel, which is now $ 78 one barrel. This means that in the last one year, Brent crude has been 44 percent expensive. As you know, India imports 80 percent of its petrol and diesel requirement. If Brent crude is expensive then our companies will also have to buy it at an expensive price.
Another reason behind the rising in prices of petrol and diesel in India is the constant weakening of Indian rupee. Amid rising trade tension between the US and China, the value of the US dollar is getting stronger. For your information, let you know that India has to buy petrol and diesel in foreign dollars.
About one year ago, the price of one dollar was 64.12 rupees. At the same time, the price of one dollar is around 72 rupees. That is, the rupee has been costlier by 8 rupees against the dollar in the last one year i.e. we have to pay more than eight rupees to buy Brent crude per barrel
According to experts, the prices of Brent crude in the international market will go up because the demand for crude increases in Europe and the US during the winter weather. For this reason, there is a surge in prices this season. That is, if Brent crude oil costs $ 80 one barrel then the price of petrol in India would be Rs 100 per liter.
It is being said that if Brent crude oil breaks this level, then it can go up to $ 85 one barrel. If the price of petrol continues to increase every day, then petrol prices can be up to Rs 100 per liter up to Diwali. According to experts, the ban on Iran will be imposed by November, which will reduce the supply due to which the prices of Brent crude would increase.
Now only the government can stop petrol prices from Rs 100 per liter. If the government reduces taxes imposed on petrol and diesel, then its prices would be reduced, otherwise the international signal is that the price of petrol would be Rs 100 per liter in the coming days.
SEP 17 (WTN) - The price of petrol in the country is steadily rising. In Maharashtra, one liter petrol has reached Rs 91.5 per liter. The questions are being raised whether the price of petrol in the country can be Rs 100 per liter? According to international business experts, if international developments remain the same, then in the coming days, petrol in India could be Rs 100 per liter.
The biggest reason for the increasing in petrol prices in India is the rising in the crude oil prices in the international market, and the dollar‘s being strong compared to the rupee. For your information, let you know that one year ago, Brent crude price was $ 55 per barrel, which is now $ 78 one barrel. This means that in the last one year, Brent crude has been 44 percent expensive. As you know, India imports 80 percent of its petrol and diesel requirement. If Brent crude is expensive then our companies will also have to buy it at an expensive price.
Another reason behind the rising in prices of petrol and diesel in India is the constant weakening of Indian rupee. Amid rising trade tension between the US and China, the value of the US dollar is getting stronger. For your information, let you know that India has to buy petrol and diesel in foreign dollars.
About one year ago, the price of one dollar was 64.12 rupees. At the same time, the price of one dollar is around 72 rupees. That is, the rupee has been costlier by 8 rupees against the dollar in the last one year i.e. we have to pay more than eight rupees to buy Brent crude per barrel
According to experts, the prices of Brent crude in the international market will go up because the demand for crude increases in Europe and the US during the winter weather. For this reason, there is a surge in prices this season. That is, if Brent crude oil costs $ 80 one barrel then the price of petrol in India would be Rs 100 per liter.
It is being said that if Brent crude oil breaks this level, then it can go up to $ 85 one barrel. If the price of petrol continues to increase every day, then petrol prices can be up to Rs 100 per liter up to Diwali. According to experts, the ban on Iran will be imposed by November, which will reduce the supply due to which the prices of Brent crude would increase.
Now only the government can stop petrol prices from Rs 100 per liter. If the government reduces taxes imposed on petrol and diesel, then its prices would be reduced, otherwise the international signal is that the price of petrol would be Rs 100 per liter in the coming days.
