In today's news I read an article on India and oil prices. Today India experience a 3.8% jump in oil prices as here recently the oil prices have steadliy been declining. With the price of crude oil steadily decreasing has been benefiting countries such as India that produce oil. As reported the price of barrells of oil were as high as $147 and is currently at $100 and declining.
Currently the top Bank Lender in India percentages jumped to 7.4% and they are hoping with the most recent drop in oil barrell prices will help to decrease percentage rates. Also top vehicle maker Tata Motors dropped down to 1.8% and they are also hoping that oil prices continue to fall in order to helpthe fund of $2.3 billion for the acquistion of Jaguar and Land Rover brands.
Reading this article there are many promising things happening in India when it comes to the falling oil prices and for the people in the nation. Hopefully with the dropping prices India will be able to focus their attention on other important issues.
http://news.yahoo.com/s/nm/20080902/india_nm/india352820
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