For the seventh day consecutively, petrol and diesel prices continued to rise in the country on the back of the attack on Aramco oil refinery in Saudi Arabia, causing a hike in fuel prices.
According to Indian Oil Limited’s website, Petrol rates in Delhi, Kolkata, Mumbai and Chennai were Rs 73.91, Rs 76.60, Rs 79. 57 and Rs 76.83 per litre respectively, while diesel rates were recorded at Rs 66.93, Rs 69.35, Rs 70.22 and Rs 70.76 per litre in the four metros.
Petrol price has hit the highest in the year in India while diesel is the highest in the past few months.
The petrol prices were up by 29 paise per litre and that of diesel by 19 paise per litre. If the last seven days are taken into account, then the petrol price has gone up by Rs 1.88 per litre and diesel price by Rs 1.50 per litre in Delhi.
On Sunday, fuel retailers hiked petrol prices by 21-28 paise a litre and diesel by 21-23 paise per litre across the country.
ICE November Brent futures were trading $0.51 higher at $64.93 per barrel in the international market.
India depends on Saudi Arabia for a fifth of its oil imports and has been in constant touch with Kingdom officials on securing its supplies.
India imports 83 per cent of its oil needs, with Saudi Arabia supplying a fifth of the purchases. Saudi Arabia is its second-biggest supplier after Iraq. It sold 40.33 million tonnes of crude oil to India in 2018-19 fiscal, when the country had imported 207.3 million tonnes of oil.
Earlier, on Thursday Oil Minister Dharmendra Pradhan spoke to Saudi Arabia’s new oil minister Prince Abdulaziz bin Salman to discuss the supply plan and Saudi Arabia has assured India of meeting all its committed oil supplies.