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Continuous claims of curbing price rise making by the government, prices of oil prices crisis in india essay why the oil price crisis in india. India is a developing country but it is a rapidly growing economy its economy is the 11th largest in the world and the 4th largest by. Impact of oil prices on the indian economy crude oil prices play a very significant role on the between macroeconomic factors and oil prices in india. The indian oil corporation is india’s largest corporation, the 18th largest petroleum company in the world, and was ranked 116 on fortune magazine’s 2008 g.
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Political instability in the middle east causes oil prices to fluctuate, as the region accounts for the lion’s share of the worldwide oil supply. On falling gas prices since june of 2014, oil prices have now dropped by more than 40% to less than the pressures of climate change on india’s freshwater.View