New delhi sources stated that Petrol prices have soared by Rs 1.59 a litre and diesel by Rs 1.31 in the last six days the most since daily price revision was introduced in 2017, as a massive strike at Saudi Arabian oil facilities jolted oil markets. The petrol price was on Sunday hiked by 27 paise to Rs 73.62 a litre in the delhi market the benchmark for national rates, according to a price notification by state owned oil firms.
Furthermore price of diesel was increased by 18 paise to Rs 66.74 per litre in delhi and this is the sixth straight daily increase and has taken the cumulative price hike since September 17 to Rs 1.59 per litre in case of petrol and Rs 1.31 for diesel.
Meanwhile global oil prices shot up the most since the Gulf war in the immediate aftermath of the unprecedented drone missile strikes on key oil facilities in saudi arabia that disabled 5 per cent of the global supply. Perhaps oil prices have cooled since the spike on September 16 but remain on the edge. Moreover Bharat Petroleum Corp Ltd (BPCL) has already tendered for import of LPG in October, possibly to make up for the shortfall from saudi arabia and india buys around 2,00,000 tonnes of LPG every month from saudi arabia.
