Developed By: iNFOTYKE
Mumbai: Following the largest-ever disruption of crude production in Saudi Arabia amid drone attacks on its key facilities, prices of petrol and diesel in India may shoot up by Rs 5 to 6 a litre in next fortnight, experts said on Monday.
A recent report by Kotak said that in light of the sharp rise in international crude oil prices, Indian oil marketing companies (OMCs) may increase the retail price of diesel and gasoline by Rs 5 to 6 per litre in the following fortnight.
Oil prices soared as much as 20 per cent to above $71 a barrel as markets reopened after a major attack on Saudi Arabia’s oil infrastructure. The attack immediately erased out 5.7 million barrels.
‘‘These attacks resulted in production suspension of 5.7 million barrels of crude oil per day,” Saudi Aramco said in a statement.
Oil prices, experts said, could spike in the next several days as a result of the attack on Saudi Aramco, the second-largest oil producer in the world. (IANS)