Petrol and Diesel prices are Likely to be Hiked says Analysts

Due to ongoing war among the Russia and Ukraine, market is following bullish trend for four continuous weeks and yesterday indices finally closed on the green.

As the elections are over in few states we may see the price of petrol and diesel are likely to raise. Analysts are expecting a Rs.0-12 per litre rise.

“The recent up move in crude has come as a surprise and is likely to impact petrol prices in the near term as participants keenly watch how the government will control its impact on end consumers with also fiscal deficit targets not getting breached,” said Parekh.

“US CPI inflation recorded a 40-year high due to high gasoline, food and housing costs, adding doubts to the global trend. Inflation levels in India and abroad are poised to rise even higher in March, though temporarily, considering the impact of the Russia-Ukraine issue,” said Vinod Nair, Head of Research at Geojit Financial Services.