Middle East conflict: Fuel retailers lose Rs.5 on petrol, Rs.23 on diesel as crude tops $100
New Delhi, Sept. 9 -- State-owned fuel retailers are losing Rs.5 per litre on petrol and Rs.23 a litre on diesel as fresh hostilities in West Asia pushed international oil prices above USD 100 per barrel -- the highest since last July -- analysts said on Wednesday.
Brent crude, the international benchmark for oil prices, rose 2.5 per cent to over USD 100 a barrel, while US West Texas Intermediate crude gained almost 2 per cent to about USD 95. This after tensions rose in the Middle East amid the latest tit-for-tat exchange of fire between the US and Iran.
Brent last touched the USD 100-mark on July 23.
India, the world's third-largest oil importing and consuming country, is particularly exposed to swings in international crude prices. ...
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