New Delhi | Global crude oil prices crossed $ 116 a barrel in the wake of the Russia-Ukraine war. In this situation, it is almost certain that the price of petrol and diesel in the country will go up in the coming days. Experts say the increase might be as high as Rs 25 per liter.
Petrol and diesel prices have not risen in the country in the last 120 days. At the same time, the price of crude oil rose by regarding 70 percent during the period. Fuel prices are yet to be hiked as assembly elections are being held in five states of the country. The results of the Assembly elections will come on March 10. With this, it is certain that oil prices will increase from next week.
Oil companies have not changed fuel prices since November 3. The price of crude oil in the international market has now reached $ 116. Crude oil prices have risen more than $ 40 a barrel since November 3.
In this scenario, petrol and diesel prices may go up by Rs 20 to Rs 25 a liter following the Assembly elections, said Anuj Gupta, vice-president, IIFL Securities. Experts point out that when crude oil prices rise by $ 1 a barrel, petrol and diesel prices in the country are likely to rise by an average of 55-60 paise per liter.
