Will Fuel Prices Cross Rs 100 Mark?

Tue Sep 17 2019 13:39:50 GMT+0530 (IST)

The dark clouds of a trade war between China and the US, tensions in the Iranian gulf and the attacks on the oil supply lines of the Saudis only mean that tough times are ahead for India. All this could lead to unbearable economic burden on India's fuel market.

Fears of rising fuel prices are haunting India. The petrol and the diesel prices could touch a new high and could even cross Rs 100 mark. The war clouds could rain tensions on India and the petro prices are likely to zoom up.

To add to the woes of the people, unlike the UPA, the NDA government is not ready to share the burden of the rising fuel prices. This only means that the people have to bear the cost of the international drama being played out in the Gulf.

The sanctions on Iran's oil production and the Iranian attacks on the Saudi oil installations could lead to reduction of the petroleum production. What more, the per barrel price of the petroleum has gone up by 12 dollars in just 48 hours.  This may lead to the collapse of the economy and the currencies of several countries and even India would not remain unaffected by all these developments. So wait for the big petrol shocks to torment you.