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The Economic Times
The Economic Times
Business

$100 crude shock: Oil cos lose Rs 5/litre on petrol, Rs 23 on diesel as pump prices stay frozen

Oil Petrol India United States Prashant Vasisht Inflation Iran RBI

Indian fuel retailers are losing around Rs 5 per litre on petrol and Rs 23 on diesel, with retail prices remaining unchanged even as a fresh escalation in West Asia sent international crude prices above the USD 100-a-barrel mark, PTI reported on Wednesday.

The widening losses come as Brent crude, the global benchmark, climbed 2.5% to above USD 100 a barrel, while US West Texas Intermediate crude rose nearly 2% to around USD 95. Brent last crossed the USD 100 threshold on July 23.

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