Currently, a war is raging between Israel, the United States, and Iran. Israel and the United States are attacking Iran, and Iran is also attacking both countries. Furthermore, Iran is attacking US embassies in various countries, among other places.
Now, this war has begun to frighten people, as it has caused concerns about everything from inflation to petrol prices. It is believed that if the war continues for a long time, it could impact petrol prices, and India will not be spared. So, let's try to understand how much a liter of petrol could cost in India if this ongoing war between Israel, the United States, and Iran continues for a long time.
How do petrol prices rise?
Petrol prices depend on crude oil prices.
As international crude oil prices rise, so does the price of petrol.
The higher the price at which a country buys crude oil, the higher the price of petrol.
What is the price of crude oil?
Crude oil prices have risen by approximately 15 percent since last Saturday.
Crude oil has reached approximately $84 per barrel.
This is its highest level in over a year.
How much could crude oil prices rise?
Crude oil prices have risen by approximately 15 percent since last Saturday.
It is believed that if the war between Israel, the US, and Iran continues for a long time, the price of crude oil could reach $150 per barrel.
How much could a liter of petrol cost in India?
The steady rise in crude oil prices suggests it could become even more expensive in the coming days.
Almost half of India's oil comes from the Strait of Hormuz, where shipping has been virtually halted.
In such a scenario, if crude oil prices rise, experts believe the price of a liter of petrol in India could increase by 10-12 rupees.
However, India is exploring alternative options for crude oil to prevent petrol prices from rising.
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