How crude oil at $100 will affect India
Zee News
In such a situation, India too might not be able to bypass the effects of a global crisis.
By Abhishek Sankhyayan
New Delhi: Crude oil touched $100 for the first time in seven years soon after Russia invaded Ukraine. The escalating conflict is expected to have serious repercussions across the globe, with the West imposing sanctions on one of the world’s biggest suppliers of oil and natural gas.
In such a situation, India too might not be able to bypass the effects of a global crisis. Let’s have a look at how the conflict might affect you.
1.Tax collection of Government
On January 4, crude was trading around$ 80, at that time the price of petrol in Delhi was Rs 95.41 per litre. Crude oil has risen to about 25 percent. The cost price of crude oil has directly increased by Rs 10 per litre. In such a situation, Petro retailers will gradually revise the price of petrol and diesel gradually after assembly results on March 10.
