By Karuna Thapa
Kathmandu, March 7
The price of crude oil has risen to a 14-year high on the worldwide market. According to
Bloomberg, Brent crude surpassed 130 per barrel on Monday. It’s the highest, it’s been since 2008.
Traders predict that the price of crude oil will hit $200 this month, despite rising pressure on the US to stop buying Russian oil.
India buys crude oil on the international market and processes it before selling it to Nepal for a profit. Because the price of oil acquired under the GTG agreement will rise in tandem with the price of crude oil on the international market, the price of crude oil will have an impact on the Nepali market.
