I have found a direct relationship between global warming and crude oil. Every year mercury level sets a new record,similarly, every day crude oil price hits a new high. After breaching the $100 barrier, it has gone all the way to reach $135. Some analyst expects the crude oil price to reach $200 mark soon. If that is case,running your car or bike might not fit your monthly budget. Thanks to the upcoming elections, the government of India has insulated us from the global scenario. But this cannot be continued as the crude oil price keeps raising. Private oil retailers such as Reliance have closed their outlets and the public Oil Marketing companies (OMC) such as IOC,BPCL and HPCL are losing Rs 450 crore a day on sale of petrol, diesel, domestic LPG and kerosene. “We had previously anticipated the under-realisation on sale of petrol, diesel, domestic LPG and kerosene in 2008-09 at Rs 1,50,000 crore. But with rising crude and weakning rupee, the losses may now total Rs 1,80,000 crore,” an IOC official said. To prevent bleeding OMCs have already started taking steps, the retailers are directed to sell only premium oil in metro cities. But that is not enough, few media reports Government of India plans to rise petrol price by Rs10 and diesel by Rs5. As rightly termed by supporting left parties, rising the fuel price in the midst of record high inflation would be a suicide attempt by the ruling government. I believe the Govt’s announcement as a gimmick, to prepare the people for the worst. Govt of India may rise the price of both petrol and diesel by Rs2 and say it has passed only the minimal amount to the public. Anyway your monthly planning is going to be much tougher than before.