Petrol prices soon reached Rs 100 

Brace yourself to pay Rs 100 for a litre of petrol in the New Year. Officials in public sector oil marketing companies said in the absence of any intervention to tame prices, petrol could cross Rs 100 per litre mark in most parts of the country by January 2019.

The prediction is based on simple calculation of roughly 40-50 paisa per litre increase in retail prices of petrol and diesel for every one dollar increase in international crude oil prices.And to top it, if rupee depreciates further, every Re 1 fall in its exchange rate against the dollar will add another 65 paisa to pump prices of auto fuels.

Interestingly, the fuel station of public sector oil retailers have already started the process of calibrating their dispensing machines to take care of three digit petrol prices. There is sense with pump owners that Rs 100 petrol may soon be a reality