Representative image
Representative image

Prices of petrol and diesel have started rising. This comes after a massive drone attack on Saudi Arabia's oil facilities. The price of patrol has been hiked 18 paise and diesel price is hiked by 33 paise.

According to a price notification issued by Hindustan Petroleum (HP), the price of patrol has reached to Rs. 77.83 a litre and Rs. 68.76 a litre for diesel in Mumbai. Moreover, other cities across India are also facing the surcharges of petrol and diesel prices. Such as, in Delhi it is Rs. 72.21 a litre for patrol and Rs.65.61 for diesel. In Hyderabad the petrol price has increased to Rs. 76.69 a litre and Rs. 71.46 for one litre diesel.

The prices of petrol and diesel will keep increasing if the price of crude stays at current levels, HPCL chairman M K Surana told to Mint. "We do not rule out a possibility of moderation in marketing margins on auto fuels—a $10/bbl rise in global crude and product prices may require OMCs to increase retail price of diesel and gasoline by Rs.5-6/liter in the following fortnight," Kotak Institutional Equities said in a report.

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Free Press Journal