Petrol and diesel prices rose for the fourth straight day on Sunday as global oil prices jumped after the US killed a top Iranian general, fanning fresh fears of conflict in the crude-rich Middle East.
Retail pump price of petrol was hiked by 9 paise per litre and that of diesel by 11 paise, according to a price notification of state-owned fuel retailers. Petrol in Delhi now costs Rs 75.54 per litre — the highest in more than a year, while a litre of diesel comes for Rs 68.51.
While global stock markets were mixed following the US killing of Qasem Soleimani, oil prices jumped more than 3 per cent on Friday. Oil markets will reopen on Monday after the weekend break. The killing of Soleimani represents “a significant spike in geopolitical risks and could lead to a direct confrontation between the US and Iran,” Oxford Economics said in a commentary.
