Bullish crude expected to distress petrol, diesel prices within two weeks

With a surge in crude oil prices, the consumers can expect a heavy increase in the petrol and diesel rates in the next two weeks.

Crude jumping off its bearish phase rose above 24 percent since August 26, beating a six-year low of USD 42.

According to market experts, the reason for a sharp rise includes global oil prices that spectacularly rose after oil cartel OPEC agreed to coordinate with other oil producers to ensure pocket friendly oil prices.

However, Indian fuel retailers will now have to review prices to fall in line with the rates that support global trends and the exchange rate.

Since June, petrol and diesel prices have fallen by Rs 6.5 a litre and Rs 9 a litre that came in as a blessing to the Indian economy additionally helping tame inflation and orientation of monetary and fiscal measures.