Spike in international crude oil prices, following a drone attack in Saudi Arabia’s largest oil production facility, has come as another blow to India’s beleaguered automotive sector. The attack and the resulting cut in Saudi crude oil production led to a 20 per cent spike in Brent crude oil — the benchmark used to price Indian’s oil imports.
Brent is currently trading with gains of 10.7 per cent. This will translate into a matching or even higher increase in petrol and diesel prices in the domestic market based on the relative movement in the rupee Read More
Latest posts by Business-Standard.com (see all)
- Power Grid Corporation of India acquires project SPV Fatehgarh-11 Transco - October 16, 2019
- Centre drafts franchisee model for power supply, urges states to take it up - October 16, 2019
- NEEPCO blames Meghalaya’s illegal coal mining for Kopili hydel plant accident - October 15, 2019