🙂 Will Petrol go back to 1963 Rates in India as on this old bill from then ! ? ~ Question is of course rhetoric !
Read that again ! It’s just Rs 3.60 for a full 5 liters !=> that’s 72 paise a litre nearly 53 years ago on February 2,1963 !…it’s surged to current @ Rs 70 a litre which is in absolute terms 9600+% and in CAGR Terms just 9%
You can dramatically of course say that 72 paise has become 72 rupees in just over half a century !
Today everyone has an Opinion on Oil Rates !
Of Course very Few ,if at all any, had predicted in mid 2014 that they would halve from US $ 100/barrel
Now many are predicting they will halve even from current US $ 41.65 (WTI) & US $ 44.61 (Brent) ! .Here’s an interesting article of October 2015 on Oil & the Syrian War
Great for India if it does halve from the halve already in on year !…it’s cushioned our FY 15 & FY 16 significantly as we import 3/4 ths of our growing requirements and we are growing at 7.4% GDP on last count
Oil’s Well that ends Well !
India is in a sweet spot !…for now…will it get sweeter?