Crude oil prices rose sharply after the start of the war between Russia and Ukraine. Even its price had reached the peak of $ 139 per barrel. However, after that it softened, but once the prices of crude oil are on fire and the price has increased beyond $ 120 per barrel.
Crude prices rise, rupee depreciates
Due to the rise in the price of crude oil, its immediate effect has also been seen on the price of the rupee on Tuesday, the Indian currency rupee closed by 13 paise against the dollar, while on Wednesday also the rupee declined by 10 paise. Went. The report said that the price of crude oil has increased by 0.91 percent to reach the level of $ 122.78 per barrel internationally. Whereas WTI crude is trading at $119 per barrel.
Possible effect on the price of petrol and diesel
Significantly, changes in crude oil prices affect the prices of petrol and diesel in the country. In the past, along with the rise in the price of crude, there was a continuous increase in the prices of fuel in the country. Although the general public had got some relief due to the government's decision to cut excise duty on petrol and diesel, the possibilities of increasing fuel prices in the country have also increased due to the rise in crude prices.
Price may reach beyond $130
According to experts, in the coming days, the price of crude oil can once again reach beyond $130 per barrel. Let us tell here that when the war between Russia and Ukraine started, then the supply chain was badly disrupted and this has a direct effect on oil prices. At the same time, the war is still going on and it cannot be said how long it will last, in such a situation, if the prices of crude oil increase further, once again the price of petrol and diesel may have to face an increase at the domestic level.
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