Russia-Ukraine Crisis: This battle will be heavy on your pocket, petrol and diesel prices may increase by Rs 15 a liter

Russia-Ukraine Crisis: This battle will be heavy on your pocket, petrol and diesel prices may increase by Rs 15 a liter

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new Delhi. The heat of the war (Russia-Ukraine War) between Russia and Ukraine will reach your pocket too. Crude oil prices were increasing for the past few days due to Russia-Ukraine tension and crude oil prices reached $ 103 per barrel as soon as Russia attacked Ukraine on Thursday. In the last two and a half months, the price of crude oil has increased by 27 percent.

In these two and a half months, government oil companies have not increased the prices of petrol-diesel. In such a situation, now the possibility of increase in oil prices has become strong as soon as the assembly elections of five states including Uttar Pradesh are over. Significantly, in the international market, the price of crude oil has reached $ 103 per barrel. Earlier in 2014, the price of crude oil had crossed $100.

Read also: Russia Ukraine Crisis: Not only crude oil, soybean, wheat and maize also have a strong storm

Rates can increase so much

Domestic oil companies have not made any change in petrol prices from November 3. But since then, crude oil has become more expensive than $ 20 per barrel. Experts say that if the Russia-Ukraine war lasts for a long time, then the price of crude oil can go up to $ 120 per barrel.

In such situations, domestic oil companies can increase the rates of diesel and petrol by up to Rs 15 a liter. It is possible that the increase should not be done all at once but in two-three phases. The price of natural gas is also increasing. Due to this, the price of LPG and CNG can also increase by 10 to 15 rupees in the coming days, it is believed.

when will the price increase

Market experts say that after the ongoing assembly elections in 5 states including Uttar Pradesh and Punjab, oil companies will increase the price. The results of the Legislative Assembly elections are to come on March 10. It is generally seen that oil companies do not increase the prices of petrol and diesel during elections. Increasing the price causes political damage to the government.

Also read: Russia-Ukraine War: Know how much the ‘fire’ in crude oil will scorch India

On November 3, the government had reduced the tax

On November 3, the central government had reduced the excise duty on petrol and diesel. After this many states also reduced the tax on petrol and diesel. Due to this the rates were reduced. Since then the prices of petrol and diesel have not increased. Since then there has been a significant increase in crude oil. On November 3, 2021, the price of crude oil was $ 80 per barrel, which has now reached above $ 103 per barrel.

Tags: Diesel Petrol New Rate Today, Personal finance

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