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Petrol, diesel prices may jump Rs 5-6 per liter due to Saudi drone attack: Reports

Quoting Kotak Institutional Equities', two business news websites have claimed that petrol and diese prices may jump by as many as Rs 5-6 per liter in India.

ET Online and Agencies|
Updated: Sep 16, 2019, 02.29 PM IST
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Petrol and diesel prices in India may jump significantly due to last week's drone attack on Saudi Arabia's Aramco oil refinery, which is the largest oil processing facility in the world, as per reports.

Quoting Kotak Institutional Equities', two business news websites have claimed that petrol and diese prices may jump by as many as Rs 5-6 per liter in India.

Meanwhile, Hindustan Petroleum Corp Ltd has said that price of petrol and diesel at retail outlets might go up if the price of crude stays at current levels.

"Price of product at fuel outlets might be impacted if crude price continues to go up by 10%," M K Surana, chairman of HPCL told Reuters on Monday.

Indian fuel marketing companies fix the price of petrol and diesel at retail outlets based on an average of last 15 days of benchmark price of petrol and diesel in the Middle East.

Surana, however said, that a continued high crude price is not sustainable.

(Reuter Inputs)

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