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Russia-Ukraine Crisis | How Will The War Impact Oil Prices In India? | Latest News
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February 25, 2022
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2:55Now PlayingIn the recent developments concerning the Russia-Ukraine Crisis, the crude oil prices are at a 7 year high and is close to
$105 per barrel. It is important to note that Russia is the supplier of 10% of the oil that is used globally. India on the other hand, imports 85% of its total oil requirements, and any hike in the price of oil will ultimately affect India, thereby increasing the inflation within the country. In India, the prices of petrol and diesel are expected to increase further after the state elections. Besides India, the oil prices in China and entire Europe is also expected to surge at a massive rate.
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