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Tezzbuzz Desk- The concerns of common people regarding the prices of petrol and diesel in India may increase in the coming days. Important for India amid rising crude oil prices in the international market Indian Basket Crude Has also crossed the level of $ 100 per barrel. According to Petroleum Planning and Analysis Cell (PPAC) data, the Indian basket price was recorded at $ 100.75 per barrel on September 8. Earlier on Friday also its price had crossed $ 101 per barrel.

This rise in crude oil prices is mainly being seen amid increasing tension in the Middle East. According to experts, if crude oil prices remain at this level for a long time, it may impact domestic fuel prices in the coming months.

Crossed $100 for the first time since May

The price of Indian basket crude has crossed $ 100 per barrel for the first time since May. In April its average price reached $ 114.48 per barrel, while in May it was $ 106.23 per barrel.

After this, the average price of crude oil in June, July and August was $ 83.22, $ 82.04 and $ 90.19 per barrel respectively. Compared to July, the current price has increased by about 23 percent. That means, in a short time, Indian basket crude has become costlier by about $18 per barrel.

Will the prices of petrol and diesel increase?

Now the biggest question is that when and how much will the rise in crude oil prices affect the prices of petrol and diesel. According to commodity expert Anuj Gupta, if the average price of the Indian basket remains above $ 100 per barrel in the entire month of September, then the prices of petrol and diesel will rise in October. 3 to 5 rupees per liter Increase up to is possible.

However, he also said that at present there is a lot of uncertainty in the crude oil market. There is increasing pressure on prices due to tensions in the Middle East, but there is currently no major obstruction in India's crude oil supply. India also has more suppliers than before.

Oil becomes expensive even in the international market

Crude oil prices are also rising in the international market. Brent crude has reached the level of around $ 99 per barrel, while US crude is trading around $ 94 per barrel. The recent attack on Saudi Arabia's Jizan refinery has also increased concerns in the oil market. This refinery is said to have the capacity to process about 4 lakh barrels of crude oil daily.

Apart from this, Iran's stance regarding the Strait of Hormuz has also increased the market's concern. Iran has talked about a new shipping corridor, which is expected to affect the movement of oil tankers through this important waterway. In such a situation, if the tension in the Middle East increases further in the coming days and the prices of crude oil remain above 100 dollars, then its impact can also be seen on the prices of petrol and diesel in India.