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.
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.
Air India says issues regarding aviation fuel payments would be resolved early Reportedly Air India said that the issues regarding aviation fuel payments are being sorted out with the state run oil companies and they would be resolved early. Meanwhile the statement comes days after oil PSUs (public sector units) in a letter to the national carrier warned of ending fuel supplies at six major airports from October 18, if the latter did not make the lump sum payments as had been agreed upon.
- Chiranjeevi and Jagan's Bonhomie Surprises Everyone
- Jagan Increases Rythu Bharosa Amount in the Last Minute
- Indian-American Abhijit Banerjee Selected for Nobel Prize
- India slowed considerably from go-go-years before financial crisis: Raghuram Rajan
- Jagan discussed conditions on Ghanta with Chiru!
- BJP not yet projected any chief ministerial face for upcoming Assembly polls in Delhi
- Congress Leader Rahul Gandhi campaigns for the party in Haryana today
- Investigations going on in sensational Jolly Joseph serial murders case
- North East Monsoon likely be begin in Tamilnadu from October 17
- PM Modi dared Rahul Gandhi on abrogation of Article 370
- BJP may face tough time in Thanesar seat as Ex- INLD chief joined Congress
- Mobile Phone services to be restored from October 14 at Kashmir
- Will TSRTC Bus services be restored by October 21?
- PM Modi took to Twitter to answer what he was carrying while plogging at Mamallapuram beach
- Bangladesh and Nepal are estimated to grow faster than India in 2019: WB