Due to the Ukraine crisis and the delay in the arrival of Iranian oil in the global market, the price of crude oil in the international market is breaking records. It is being said that its effect can be seen in India too soon.

After the assembly elections of five states are over, the price of oil in India can also increase by Rs 5 to 6 per liter.

The English newspaper Times of India has published this news prominently. Be the first to read this news in today’s press review.

Experts in the matter have told that discussions are going on in the government to allow some government fuel sellers to increase by Rs 5-6 per liter to reduce the impact of the international market.

This will help the retailers to make up for the losses so far. At present the sellers are facing a loss of Rs 12 per litre.

At present, no consideration is being given to cut tax. However, if the price of crude oil continues to rise for a long time, then this step can also be taken. In that case both the central and state governments will give tax concession. Due to this, the loss of oil companies will be reduced to some extent and the burden on consumers will also be reduced.

There is also speculation that sellers may be asked to wait till the election results are out on March 10.

Petrol and diesel prices have not increased since November 4. At that time the central and state governments gave relief by cutting taxes. However, at that time the price of oil in the international market was only $ 83 per barrel.

Those who keep an eye on the industry say that this will also give some relief from the falling prices of the rupee. On Monday, the value of the Indian rupee fell by about Rs 77 against a dollar. This is the lowest level ever. With the fall in the value of the rupee, the profits that the retailers were able to earn till now will become even more difficult.

Oil prices have risen sharply amid fears of sanctions on imports of gas and oil from Russia by the countries of America and Europe. Russia accounts for 8 percent of the world’s gas supply, while in European countries this figure is 35 percent.