Crude Oil Reaches 10-year Record High
The effect of the Russo-Ukraine war is now beginning to affect the international market and the common life of the world. The result of this is that on Thursday, the price of crude oil in the international market reached a record high of 10 years. According to media reports, the price of Brent crude has increased to $ 117 per barrel in the international market on Thursday. At the same time, the oil-producing OPEC countries have decided not to increase the production of crude oil.
According to media reports, there is a strong rise in crude oil prices. On Thursday, where the price of Brent crude rose to $ 117. At the same time, the price of WTI crude rose by 2.67 percent to $ 113.6 per barrel. The price of Brent crude is the highest since 2011.
Let us let you that with the start of Russia's attack on Ukraine, Brent crude crossed the $ 100 per barrel price for the first time since 2014, breaking the record of seven years. It has steadily increased during the last four months. According to the data, the price of Brent crude has increased by 10.22 percent in December, 17 percent in January, 10.7 percent in February and more than 16 percent in March so far.
Price of Brent crude is the highest since 2011
Image Credit: Reuters
Possibility of increase in the prices of petrol and diesel in India
Image Credit: Reuters
According to media reports, the biggest impact of the rise in crude oil prices will be visible in India. Due to this, there is a possibility of a big increase in the price of petrol and diesel in the country. Despite the increase in crude oil prices, the prices of petrol and diesel in the country have remained stable for the last four months. However, the reason behind this is being told the ongoing assembly elections in five states of the country.
There has been no change in the prices of petrol and diesel for the last 119 days in the country. On 3 November 2021, the central government had cut excise duty on petrol by five rupees and on diesel by 10 rupees per litre. After this, many state governments also reduced their taxes. At that time, the average price of crude oil in the international market was $ 82 per barrel. Crude oil has crossed $ 117 in the fight between Russia and Ukraine.
