Another $10 rise in crude oil to $95 per barrel at rupee level of 73-74 may take petrol price in India to Rs 100 per litre, according to the back-of-the-envelope calculations by analysts.
The benchmark Brent crude price surged to four-month high of $85 per barrel on Wednesday when a litre of petrol was sold for Rs 91.20 in Mumbai and diesel for Rs 79.89 per litre.
Abhishek Bansal, founder and chairman of currency derivative and broking firm ABans group, said if rupee rises to 75 a dollar and Brent remains at $85 per barrel, then petrol and diesel price may be in the range of Rs 91-95 per litre and Rs 80-84 per litre, respectively, in India. Read more
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