Petrol and diesel price hikes look inevitable
Petrol and diesel prices are likely to rise on global cues. Crude oil prices in the international market rose to six-week high lately, but domestic prices have been unchanged. The current sale price of petrol and diesel are Rs 101.19 a litre and Rs 88.62 a litre respectively in the national capital.
“The optimism about global economic growth despite the COVID-19 pandemic along with more than anticipated fall in the US crude oil inventories have further bolstered the crude oil market sentiment. Brent crude oil had closed at $75.31 a barrel on September 17,” said an official at one of the oil marketing ocmpanies.
Retail prices of petrol and diesel in India are also likely to be affected with the surge in international oil prices.
