New Delhi: State-run oil marketing companies today increased the price of petrol by 15 paise a litre and that of diesel by 17 paise a litre as Brent crude oil rates surged more than 2% to cross the $70 mark.
In New Delhi, a litre of petrol today costs Rs 75.69 and diesel Rs 68.68. In Mumbai, a litre of petrol costs Rs 81.28 a litre and diesel Rs 72.02 a litre. Similarly, in Bengaluru, Rs 78.22 for petrol and Rs 70.97 for diesel. In Chennai, petrol costs Rs 78.64 for petrol and Rs 72.58 for diesel.
Soleimani and President Trump’s threat to impose sanctions on Iraq, oil prices shot more than 2% higher today, with Brent rising above $70 a barrel.
India imports around 84% of its oil requirements out of which the Middle East nations account for more than two-thirds of imports. Iraq and Saudi Arabia are the two top suppliers.
While oil prices surged, gold hit a more than six-year high and equities tumbled Monday after the US assassination of a top Iranian general last week fanned fears of a major conflict in the Middle East.
Donald Trump warned of a “major retaliation” against Tehran after it threatened revenge for the killing Friday of commander Qasem Soleimani, which shocked world markets and sparking a sell-off in stocks and a spike in crude.
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