23
Feb
As the Ukraine crisis spooked the oil market already struggling to meet rising demand, the global benchmark crude Brent raced towards the $100 per barrelmark. So, in India fuel prices go up by Rs 7 to 8 per litre. Pump prices have remained unchanged. The sharp in- crease has widened the gap between the actual cost and retail prices of petrol and diesel. As per ballpark, every $1 increase in crude price impacts retail rate by 70-80 paise. As Brent hit $98/barrel, the mix of crude bought by India, otherwise known as the Indian Basket, too rose to $93. 6,…
