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Rates of petrol,diesel & LPG may be much increased

Rates of petrol,diesel & LPG may be much increased

OPEC countries agreed on limited production of oil.President of Russia also agreed to reduce production as crude prices all over world are drastically rising.In Aug'2016 crude price was $39/barrel which increased to $52/barrel in Oct'2016.Accordingly it will have its effect in India as well.In meeting on Oct'15 prices of petrol & diesel may be much raised.In 2015-16 India imported 20.21 Crore ton of crude oil,spent Rs. 4,18,931 Crore on it