Petrol liter 80 rupees?
Is there another shock in store for common already in doldrums with big note ban? Yes say experts. There are clear indications that petrol prices might go up again after they have been down for the last 2 to 3 years. The international prices are slowly rising after the OPEC countries decided to reduce the production of petroleum products. The present barrel of crude oil is at 53 dollars and if it touches 60, there are chances that petrol might cost 80 rupees and diesel 68 according to the rating company Crisel.
OPEC countries hold a 2/3rd production of total petroleum and to make the matters worse the non-OPEC countries producing petroleum might also decide in favor of reducing production. Crisil says that crude oil barrel might reach 55 dollars by March 2017 and if it reaches 60 as some predict, the domestic petrol and diesel prices will reach the above said price. This sounds a bit bitter for common man.