Petrol, diesel prices up for fifth straight day

DIMAPUR, JAN 6 (NPN) | Publish Date: 1/6/2020 11:47:12 AM IST

Petrol prices on Monday were hiked by 15 paise a litre and diesel by 17 paise as global oil prices hit the USD 70 mark over fears of conflict in the Middle East.

Retail pump prices of petrol in Delhi rose to Rs 75.69 per litre--the highest since November 2018--while those of diesel climbed to Rs 68.68, according to a price notification by state-owned fuel retailers.

After Monday’s revision, petrol price rose to Rs. 73.57 a litre in Dimapur and Rs. 74.37 a litre in Kohima. On the other hand, a litre of diesel in Dimapur and Kohima stood at Rs. 66.39 and Rs. 67.02 respectively.

India is 84 per cent dependant on oil imports. Any spike in global prices has a direct bearing on its economy. Even domestic crude oil is priced according to international benchmarks.

The Middle East accounts for more than two-thirds of the country’s oil imports, with Iraq and Saudi Arabia being the top suppliers.

Officials said there is no immediate threat of any supply disruption to India and the only impact would be felt in prices. 


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