As Brent crude oil prices crossed $70 mark, fuel prices in India rose for the fifth consecutive day on Monday.
The price of petrol has increased by 15 paise a litre and that of diesel by 17 paise a litre. Since the beginning of the year, petrol price has increased by 55 paise and diesel by 72 paise.
In Bhubaneswar, the price of petrol is ₹74.71 a litre and diesel is ₹73.73. In New Delhi, a litre of petrol today costs ₹75.69 and diesel ₹68.68. Mumbaikars will have pay ₹81.28 for a litre of petrol and ₹72.02 for a litre of diesel.
One of the reasons for the rise in oil prices is the US-Iran-Iraq tensions in the Middle East. USA President Donald Trump has threatened to impose sanctions on Iraq.
India imports around 84 per cent of its oil, with the Middle East accounting for more than two-thirds of that. Iraq and Saudi Arabia are the two top suppliers for India.
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