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  • Post published:30/09/2021
  • Post last modified:30/09/2021

Crude Oil Prices

Petrol and diesel prices are increasing continuously in India, but the trouble is getting worse as the price of crude oil crosses $75 per barrel internationally. This can translate to a two or three rupee hike in the prices of petrol and diesel in India. What planets govern the hikes in these petrol prices? When will the price of petrol and diesel come down?

 

The Planet Responsible

For crude oil, the role of Saturn is important, so when Saturn changes its movement, then the ongoing price jump in crude oil will also be slightly less. There will be some change in the movement of Saturn on Oct 11, 2021, and Oct 19, 2021. However, Saturn is currently transiting with Jupiter. Therefore, traders of crude oil can allow the market to stabilize after the changes, and they will make further strategies afterwards.

 

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Prices Are Likely to Go Up

Global consulting firm Goldman Sachs says that by the end of this year, the price of crude oil can reach around $90. Fuel consumption is steadily rising due to increasing economic activity in the largest importing countries like India and China. Its effect will also be visible globally.

 

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