Petrol, Diesel Prices To See Sharp Surge Post Polls As Crude Prices Have Crossed $90/ Bbl

Crude prices in the international markets have crossed $90 per barrel and last at around 9:45, the Brent benchmark was trading at $92.52, while WTI has been at $91.25 per barrel.

Fuel prices in the country which are determined based on the crude rates internationally has been held constant for some time now and there is a high case that in line with the international rates, the fuel rate shall increase in sync. But this shall happen as and when the elections in 5 of the states commence.

The rise in the crude rates by a sharp quantum has been fuelled because of the escalating tensions between Ukraine and Russia. Further another reason fuelling the surge in crude price are huge disparity between market forces. In January as reported crude has risen by 15 percent and the crude has moved past $90 per barrel level for the first time in over 7 years.

Analysts' take on crude prices going ahead

There is a view that crude prices shall climb to $100 per barrel. This is even as the popularity of electric cars gains and there is still a continuing threat of the coronavirus.

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