INSUBCONTINENT EXCLUSIVE:
Price of diesel was increased by 18 paise to Rs 66.74 per litre in Delhi on Sunday.
Petrol prices
have been increased by Rs 1.59 a litre and diesel by Rs 1.31 in the last six days -- the most since the current system of daily price
reviews was introduced in 2017
Petrol price on Sunday was hiked by 27 paise to Rs 73.62 a litre in Delhi
The rate of diesel was increased by 18 paise to Rs 66.74 per litre in Delhi
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
On September 17, global energy prices spiked by 15 per cent after a weekend attack on key oil facilities in Saudi Arabia caused the worst
disruption to world supplies on record
Here are 10 things to know about petrol, diesel prices:State-run oil marketing companies review the domestic fuel prices on a
daily basis and any revisions are implemented at the fuel stations with effect from 6 am.With effect from 6 am on Sunday, the price of
petrol was at Rs 76.32 per litre in Kolkata, Rs 79.29 per litre in Mumbai and Rs 76.52 per litre in Chennai, according to notifications from
state-run Indian Oil Corporation (IOC).The rate of diesel was at Rs 69.15 per litre in Kolkata, Rs 70.01 per litre in Mumbai and Rs 70.56
per litre in Chennai.The domestic fuel prices are determined broadly by dollar-rupee exchange rate and global crude oil prices.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
The drone strike drove crude oil prices to their highest level in nearly four months.Oil prices have cooled since the spike on September 16
but remain on the edge.According to analysts, the style of the attacks on Saudi Aramco's Abqaiq and Khurais oil facilities may add a
permanent risk premium to oil and gasoline prices.Saudi Arabia has said it would restore lost production by the end of this month, and bring
its capacity back to 12 million barrels per day by the end of November.However, experts say the shock to the global oil market will be felt
for years.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.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
Catch all the Live TV action on TheIndianSubcontinent 24x7 and TheIndianSubcontinent India
Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.
