Petrol prices rise Rs 1.87 a litre, diesel up Rs 1.51 since Saudi drone strike

Petrol prices continue to surge across major cities in India after attacks on Saudi Arabia's Aramco oil refineries caused a hike in fuel prices.

Petrol prices increased for the 7th consecutive day on Monday to reach Rs 73.91 per litre in nation's capital after OMCs hiked petrol prices by 29 paise. On Sunday, petrol was being sold at Rs 73.62 in Delhi. In Noida, the price is over Rs 75.

In the meanwhile, diesel price in Delhi rose to Rs 66.93 per litre as compared to Rs 66.74 on Sunday, as per data from Indian Oil Corporation website.

Petrol rates prices have surged by Rs 1.87 a litre and diesel by Rs 1.51 in the last 7 days. On Sunday, fuel retailers hiked petrol prices by 21-28 paise a litre and diesel by 21-23 paise per litre across the country.

In Mumbai, petrol cost stood at Rs 79.57 for a litre after a 28 paise raise over Sunday's price, while diesel cost was 21 paise higher at Rs 70.22 per litre than yesterday's rate of Rs 70.01 a litre.

The retail price of petrol price in Kolkata was raised by 28 paise to Rs 76.60 a litre, against Rs 76.32 reported on Sunday. Diesel costs Rs 69.35 a litre, 20 paise more than Sunday's rate of Rs 69.15 a litre.

Similarly, in Chennai, petrol is selling at Rs 76.83 a litre, at a 31 paise hike from Sunday's rate of Rs 76.52, while diesel price rose to Rs 70.76 a litre, 20 paise more than yesterday's price of Rs 70.56 per litre.

Oil prices had jumped by as much as 19% early last week, after an attack on the oilfields of Saudi Arabia's Aramco, the heart of the kingdom's oil industry, disrupted 5% of global oil supply.

However, in India, Oil Minister Dharmendra Pradhan assured that there would be no effect on oil distribution and supply in the country. On Monday, Pradhan said the global oil prices would ease if there was no further escalation in geopolitical tensions. The price of crude oil has already reduced by a few dollars per barrel, Pradhan was quoted at an industry event in New Delhi.

Rising global oil prices are a major concern for India, the world's third-biggest oil importer, which meets almost 84% of its oil needs through imports.

(Edited with agency inputs)

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