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Tue, Oct 15, 2019 | Last Updated 12:21 am IST

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On account of Aramco Refinery attack, Petrol & Diesel price may rise to Rs.5-6 per liter

On account of Aramco Refinery attack, Petrol & Diesel price may rise to Rs.5-6 per liter
On account of Aramco Refinery attack, Petrol & Diesel price may rise to Rs.5-6 per liter
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According to sources experts said on Monday following the largest ever disruption of crude production in saudi arabia amid drone attacks on its key facilities, prices of petrol and diesel in india may shoot up by Rs 5 to 6 a litre in next fortnight. Reportedly a recent report by Kotak said that in light of the sharp rise in international crude oil prices, Indian oil marketing companies (OMCs) may increase the retail price of diesel and gasoline by Rs 5 to 6 per litre in the following fortnight.

On account of Aramco Refinery attack, Petrol & Diesel price may rise to Rs.5-6 per liter

Furthermore oil prices soared as much as 20 per cent to above $71 a barrel as markets reopened after a major attack on Saudi Arabia's oil infrastructure. The attack immediately erased out 5.7 million barrels. Saudi Aramco said in a statement "These attacks resulted in production suspension of 5.7 million barrels of crude oil per day".



Moreover the prices, however, Brent eased at the time of writing to $67 a barrel, nearly 12% higher than its previous close. Apparently oil prices, experts said, could spike in the next several days as a result of the attack on Saudi Aramco, the second largest oil producer in the world. Perhaps the sharp rise in oil prices that followed the attack dampened any chances of a positive reaction to government's economic stimulus package last week.


On account of Aramco Refinery attack, Petrol & Diesel price may rise to Rs.5-6 per liter
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