Oil Price Ballooning to U$100 per barrel, are you alarmed?

Oh yes, very much so. For us in India it means a rise in price in everything. Firstly, majority of Indians are dependent on public transport and so cost of tickets in buses, taxis etc will increase. Similarly, transportation of commodities will become more expensive since most of the daily products used like veggies, poultry, rice, wheat, pulses etc are all transported from one state to the other thru trucks which again run on oil. So cost of living will increase. It’s a complete spiral and the middle class will be the worst hit.