Petrol prices may increase by up to Rs 25

The people of India should be prepared to bear a major setback after the Uttar Pradesh assembly elections. It is believed that after this election, the prices of petroleum products are going to 'fire'. Till now the prices of petrol and diesel had not increased due to the elections. On the other hand, the price of crude oil (Brent crude) in the global market has increased to around $ 110 per barrel.

Due to the Russo-Ukraine war and other global circumstances, the price of crude oil can reach even $ 150 per barrel.

Global firms Goldman Sachs, Morgan Stanley and JP Morgan have predicted crude prices. According to them, the price of crude oil can soon cross $ 150 per barrel. Although Russia has slashed its crude prices to record levels, no one is buying it due to sanctions imposed by the US and Europe.