Highlights

  • Fuel prices see longest rally of hikes
  • Global prices of crude rally to highest level since 2014

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Top points that are 'fuelling the fire' of price rise right now

Crude oil prices near multi-year high. 

Fossil fuels are plotting a revenge on the economy as they limp back to shape post pandemic. From coal to crude prices are sky rocketing across the globe. India as a large importer is feeling not just the pinch but a real burn 

Here is what is fuelling the worry-:

  • Crude oil prices surge, surpasses $84/bbl level. Trading at over 7 year high
  • Rupee drops versus the dollar @ 75.36/$ , lowest level in 15 years
  • India's crude import bill to surge, 80% crude imported
  • Petrol, Diesel prices hikes for 7 straight days, at record high

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