Business / Petrol will go up to Rs 125 this year, there will be no relief in prices, know why experts are saying this

Zoom News : Jun 25, 2021, 06:59 AM
New Delhi: Petrol Prices Latest Update: The common man's pocket is burning due to the rising prices of petrol-diesel, and on the other hand, the government has shocked that the prices are controlled by Global Crude Oil, so we do nothing. Can. So, there is no way in fact that oil prices can be reduced, or there is no possibility to reduce the rate in the future. It is a common opinion of all the brokerage house and experts that crude oil will not be cheaper.

Opec + Countries Meeting

Brent Crude has been expensive until $ 26 a barrel in a year. In June 2020, Crude Oil was at $ 40 a barrel and today it is trading across $ 76 a barrel. There is concern about rising prices of crude oil in the whole world. Now everyone's eyes are on the OPEC + meeting on July 1. In August, the decision to be decided to the production policy. Russia is in favor of increasing the supply of crude oil.

Petrol prices will reach 125

Now if OPEC + decides to increase country production supply, then prices of petrol-diesel will be reduced in India. Oil Expert Arvind Mishra says that before the continuous decline in rupee compared to the dollar, the oil purchase has been pressurized on the purchase of revenue, it is also operating the government vaccination campaign, in such a situation of oil prices Its relief will give less expectation. They say that by this December this year, the price of petrol can reach 125 rupees per liter.

Petrol prices will increase further

Former Chairman of Ongc, RS Sharma says that crude oil will continue to increase in the international market, whose direct impact will be on inflation of products in India. The government has neither a discount about relief in duty and there is no intention. Therefore, consumers should be ready for inflation yet, it is difficult to say to what the prices will increase.

Cast oil can go up to $ 100

In view of the price of crude oil prices started, prices have reached $ 76. Bank of America estimates that crude price will reach $ 100 a barrel by 2022. The second brocerase house is a projection of Goldman Sachs that Brent Crude goes to $ 80 per barrel in the second half, while Citi has increased the target of the fourth quarter of 2021 to $ 85 a barrel.

Look at the consent between Iran-America

America's restrictions on Iran are also increasing in crude oil. If there is a consent about the nuclear deal between Iran and America and the US relaxes in the restrictions, then Iran can increase the supply, but the statement of the two countries is completely different. Therefore the supply will increase immediately, the question has still been made.