New Delhi : With polls across five states concluding today, the Centre is all geared up for a fierce spike of petrol prices ranging anywhere between Rs 15 - Rs 25 from Monday, according to reports.
The ongoing Russia-Ukraine conflict shot international to $115 a barrel and that factor will come handy to oil companies here that was on its own hiking spree anyway.
This is the first time since 2014 that crude surged past $110/barrel, the spike now being triggered by multiple country sanctions on Russian oil and natural gas. Incidentally, Russia accounts to just 1 percent of India’s oil imports.
Meanwhile, economic analysts have warned of crude hitting $ 150 in coming days.
