Given below is a statement followed by two possible conclusions I and II. Read the information carefully and select the correct option.

Statement:

Country B has been importing 80% of its crude oil and petroleum from country Y for a few decades now to fulfil their fuel needs. However, owing to the current financial crisis in country Y, it exports the crude oil and petroleum to other countries at 30% higher prices now.

Which of the following can be concluded from the given information?

I. The car resale industry in country B will be on verge of a total shut down in the coming months.

II. Country B will increase fuel tax by 30%.