New Delhi: There is a fire in the petrol and diesel prices. Today the oil is sold at the cost of the country as it has never been sold till now. The question arises that even the figure of oil will touch 100? This is an issue whose direct impact falls on the people of the country. Therefore, it would not be wrong to say that the cost of the fire in the oil prices will also suffer most of the people of the country.
Why is the price of petrol and diesel prices?
Economists believe that the biggest reason for the rise in oil prices is the weakness of the rupee against the dollar. Now the question is, how did the rupee fall suddenly so much as compared to the dollar? The rupee, which was at a rate of around 65 per dollar in the last week of March, came suddenly in mid-May to reach $ 68 a dollar? Firstly, through these figures, understand that in the last two months, how the dollar has fallen in comparison to the dollar, the cost of crude oil in the international market has climbed.
The price of rupees was about 67 rupees compared to the dollar on March 3. During that time the price of crude oil in the international market was about $ 54 a barrel.
While on March 26, the rupee appreciated against the dollar and reached level of about 65 rupees per dollar. But during that time the price of crude oil was rising in the international market and it reached about 65 dollars per barrel.
In May, the situation is that the price of the rupee has reached almost 68 rupees in comparison to the dollar. Now the price of crude oil in the international market has reached $ 78.50 a barrel.
That is, if the price of the rupee has fallen in comparison to the dollar, the oil price has increased tremendously in the international market.
The hardest time after the formation of Modi Government
This is not the first time in the country since the Modi government came when the crude oil prices in the international market reached $ 75 a barrel. Because in November 2014, the crude oil reached the international market price of $ 78 a barrel. But during that time the fire like diesel petrol prices did not take place because of this, because then the rupee was a bit stronger than the dollar, and the price was about 62 rupees per dollar.
Why is the price of rupees falling?
If the experts believe that due to the falling prices of rupee, the rising cost of crude oil in the international market can only be considered. Because 75-80 per cent of crude oil is imported in India and money is given in the dollar to buy this crude oil. This means that more dollars than the country is going out compared to earlier.
Apart from this, the US market is attracting investors more. As a result, foreign investors who invested in the Indian market so far have taken out their money. That money also went out in the dollar itself.
With this, imports are increasing in the country and exports have come down. This has increased trade deficit, which has a direct effect on the market. In spite of this, foreign investors took their money out of the market.
If not earlier then why?
So the question arises, when the price reached $ 123 a barrel in July 2008, when it reached the highest international rate of $ 132 per barrel or in March 2012, then why the price did not rise in that way? So it was because the price of the rupee against the dollar.
In July 2008, where rupee was about 42 rupees per dollar, in March 2012, about 50 rupees According to experts, the number of vehicles in the meantime was less than the road. Meaning the fuel consumption was low. At the same time, the economy of the US was dowdy, and the price of diesel and petrol was slightly under control.
Oil will cross 100?
That is, the figures that are in front of us are making it clear that if the price of crude oil continued to rise in the international market and the rupee was weaker than the dollar, then the day is not far when petrol and diesel are priced at Rs 100 Cross will also reach
Why is the price of petrol and diesel prices?
Economists believe that the biggest reason for the rise in oil prices is the weakness of the rupee against the dollar. Now the question is, how did the rupee fall suddenly so much as compared to the dollar? The rupee, which was at a rate of around 65 per dollar in the last week of March, came suddenly in mid-May to reach $ 68 a dollar? Firstly, through these figures, understand that in the last two months, how the dollar has fallen in comparison to the dollar, the cost of crude oil in the international market has climbed.
The price of rupees was about 67 rupees compared to the dollar on March 3. During that time the price of crude oil in the international market was about $ 54 a barrel.
While on March 26, the rupee appreciated against the dollar and reached level of about 65 rupees per dollar. But during that time the price of crude oil was rising in the international market and it reached about 65 dollars per barrel.
In May, the situation is that the price of the rupee has reached almost 68 rupees in comparison to the dollar. Now the price of crude oil in the international market has reached $ 78.50 a barrel.
That is, if the price of the rupee has fallen in comparison to the dollar, the oil price has increased tremendously in the international market.
The hardest time after the formation of Modi Government
This is not the first time in the country since the Modi government came when the crude oil prices in the international market reached $ 75 a barrel. Because in November 2014, the crude oil reached the international market price of $ 78 a barrel. But during that time the fire like diesel petrol prices did not take place because of this, because then the rupee was a bit stronger than the dollar, and the price was about 62 rupees per dollar.
Why is the price of rupees falling?
If the experts believe that due to the falling prices of rupee, the rising cost of crude oil in the international market can only be considered. Because 75-80 per cent of crude oil is imported in India and money is given in the dollar to buy this crude oil. This means that more dollars than the country is going out compared to earlier.
Apart from this, the US market is attracting investors more. As a result, foreign investors who invested in the Indian market so far have taken out their money. That money also went out in the dollar itself.
With this, imports are increasing in the country and exports have come down. This has increased trade deficit, which has a direct effect on the market. In spite of this, foreign investors took their money out of the market.
If not earlier then why?
So the question arises, when the price reached $ 123 a barrel in July 2008, when it reached the highest international rate of $ 132 per barrel or in March 2012, then why the price did not rise in that way? So it was because the price of the rupee against the dollar.
In July 2008, where rupee was about 42 rupees per dollar, in March 2012, about 50 rupees According to experts, the number of vehicles in the meantime was less than the road. Meaning the fuel consumption was low. At the same time, the economy of the US was dowdy, and the price of diesel and petrol was slightly under control.
Oil will cross 100?
That is, the figures that are in front of us are making it clear that if the price of crude oil continued to rise in the international market and the rupee was weaker than the dollar, then the day is not far when petrol and diesel are priced at Rs 100 Cross will also reach
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