Crude Oil Price Surge Threatens Indian Petrol, Diesel Costs

The price of crude oil has seen a sharp rise in the international market, surpassing $1 on Friday. This increase is expected to affect the prices of petrol and diesel in India in the coming days.

In Delhi, petrol is being sold at Rs 102.12 per liter, while diesel is priced at Rs 95.20 per liter. Premium petrol costs Rs 109.24 per liter, and ethanol-free XP100 premium petrol is priced at Rs 167.35 per liter.

The prices in other major cities remain stable, with Mumbai seeing petrol at Rs 111.21/litre and diesel at Rs 97.83/litre. Kolkata has the highest price for petrol at Rs 113.51/litre and diesel at Rs 99.82/litre.

The rise in crude oil prices is attributed to several factors, including tension between America and Iran, attacks on oil tankers at sea, and turmoil in the Strait of Hormuz. The Strait is a crucial oil route, responsible for transporting around 20% of the world's oil consumption.