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Will petrol and diesel reach Rs 500 per litre? New crude oil prediction reveals shocking details
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News18•19-10-2026, 15:36
Will petrol and diesel reach Rs 500 per litre? New crude oil prediction reveals shocking details
- •Currency strategist Ulf Lindahl predicts crude oil could reach $140 per barrel by February 2027 and $500 per barrel by 2030.
- •The drastic prediction is based on gold-to-oil ratios, ongoing supply disruptions, and the aftermath of conflicts involving the US and Iran.
- •Reports indicate a supply shortage of about 1.675 billion barrels over 26 weeks, averaging a daily deficit of 9.2 million barrels.
- •Refilling strategic reserves globally could require an additional 4.6 million barrels per day, creating immense pressure on prices.
- •Such a massive surge could drastically impact India's import bill, inflation, and lead to skyrocketing fuel prices.
Key Questions Answered
Currency strategist Ulf Lindahl predicts that crude oil prices could reach $140 per barrel by the end of February 2027 and potentially spike up to $500 per barrel by 2030.
Reports indicate that in the 26 weeks following the outbreak of the war, approximately 1.675 billion barrels of oil could not be supplied, marking an average daily shortage of 9.2 million barrels.
Since India imports a large portion of its crude oil requirements, expensive international oil increases its import bill, which negatively impacts the national rupee, inflation, freight costs, and domestic petrol and diesel prices.
