Can the country's price of gasoline and diesel surpass 300 rupees per litre?

TeknikalRaman

Money & Finance

POSTED BY: Ranjeet Kumar PUBLISHED: 4th July, 22

Think about how big of a strain it will be on our wallets if diesel and gasoline become so pricey. 

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Currently, diesel costs around Rs 100 per litre and gasoline costs between Rs 100 and Rs 110 nationwide. 

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According to the price of crude oil, countrywide gasoline prices are set (Crude Oil Rate). 

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Regarding crude oil specifically, a report claimed that the price might rise to 380 dollars per barrel.

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EXPECTED REASON FOR RISING PETROL/DIESEL PRICE

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Crude oil will reach $380 a barrel

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JPMorgan Chase and Co. analysts have cautioned that if the US and European nations tighten the screws on Russia, it might result in a reduction of up to five million barrels in crude oil production. 

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PRICE RISE DUE TO RUSSIA

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According to analysts at JP Morgan, crude oil prices will rise to $190 on the London benchmark if Russia reduces its crude oil production by three million barrels per day.

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What percentage will prices rise in India?

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One of the major importers of crude oil is India. Petrol will be sold for Rs 385 per litre if India's rising crude oil prices have an impact.

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Petrol will be about three and a half times more expensive if we compare the increased rates of Rs 110 per litre 

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