Petrol, Diesel Prices Likely to Rise With Hike Of Crude Oil | TV5 News

పెరగనున్న పెట్రోల్ రేట్లు..| Petrol Price Increases | TV5 News

Motorists in India could possibly be hit by a rise in fuel prices on the back of a rise in international crude oil prices. The geopolitical tensions following drone attacks on Saudi Arabia's state-owned company, Aramco’s oil refineries, caused global crude prices to spike 19.5 percent to USD 71.95 (Rs 5,144) per barrel this morning. This near-20-percent spike in international crude oil prices is the biggest jump since Saddam Hussein's invasion of Kuwait in 1991.

Oil companies and industry experts expect tougher days ahead for retail consumers.

As is known, petrol and diesel prices are directly linked with international crude-oil prices. Though India has adopted a daily pricing mechanism over the past few years, the retail price tag is maintained at a 14-day average. With elections around the corner in certain States (including Maharashtra), industry insiders have said that the government may try to prevent a sharp price hike.


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