Crude oil touching $140 per barrel
Crude oil is touching nearly $140/barrel and experts forecast that it would touch $150 around July 4. India recently had Rs. 5 increase in petrol and Rs. 3 increase in diesel per litre and Rs. 50 increase in cooking gas LPG cylinder which has around 14.5 kg weight officially. So we aren’t far from the point of $200/barrel price, maybe we achieve it in October or latest by year ending. We badly need some alternative source of energy. Rising fuel prices increases inflation rate too.
Dollar value if currently US $1 = ~ INR 42.6
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Comment by Daniel — June 16, 2008 @ 9:34 am