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Petrol and diesel prices hiked in India after Saudi Arabia attack

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Recent attacks of Saudi Arabian crude oil facilities have shaken the petrol and diesel prices worldwide. In India, petrol and diesel prices were increased by 14 paise and 15 paise respectively. The new prices of petrol and diesel are Rs 72.17 and Rs 68.58.

This increase is the biggest hike in petrol and diesel prices in one day since July 5. Retail prices increased after an increase in international oil prices by nearly 20%. This is the biggest hike in almost 30 years.  In response to attacks halving Saudi Arabia’s output, before closing nearly 15 per cent higher at four-month highs.
Meanwhile, Indian Oil Minister Dharmendra Pradhan said, ‘Certainly, when there is a spike in prices, it creates anxiety. The events since Saturday (when the Saudi oil facilities were attacked) are a matter of concern to us.’

India is the third-largest consumer of oil in the world.

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