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Petrol, Diesel Prices Rise For 6th Day Straight After Saudi Oil Attacks

Global crude oil prices have been rising sharply in the aftermath of the drone missile strikes on key oil facilities in Saudi Arabia that halted 5 per cent of the global supply.

Petrol, Diesel Prices Rise For 6th Day Straight After Saudi Oil Attacks
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Petrol, Diesel Prices Rise For 6th Day Straight After Saudi Oil Attacks
outlookindia.com
2019-09-22T16:00:55+0530

Petrol and diesel prices witnessed a sharp jump on Sunday - the highest in the last six days after the drone attack on the oil processing facility of Saudi Arabia earlier this month.

The Petrol price rose by 27 paise to Rs 73.62 a litre in Delhi. The rate of diesel was increased by 18 paise to Rs 66.74 per litre.

The increase has taken the overall price hike since September 17 to Rs 1.59 per litre in case of petrol and Rs 1.31 for diesel.

Similar hike in petrol and diesel prices has also been recorded in various cities across the country.

The price of petrol was at Rs 76.32 per litre in Kolkata, Rs 79.29 per litre in Mumbai and Rs 76.52 per litre in Chennai, according to notifications from state-run Indian Oil Corporation (IOC).

Similarly, the rate of diesel was at Rs 69.15 per litre in Kolkata, Rs 70.01 per litre in Mumbai and Rs 70.56 per litre in Chennai after the hike on Sunday.

Global crude oil prices have been rising sharply in the aftermath of the drone missile strikes on key oil facilities in Saudi Arabia that halted 5 per cent of the global supply.

On September 16, crude oil prices soared 15 per cent, the highest in 20 years on a single day.

On Friday, the benchmark Brent prices rose by $4.50 per barrel to $64.63 per barrel.

Analysts have warned that the attacks on Saudi Aramco's oil facilities may add a risk premium to oil and gasoline prices, at least for the time being.

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