Petrol nears Rs 74 a litre in national capital, govt denies supply crunch

With Rs 0.29 hike, the price of petrol on Monday jumped to Rs 73.91 in the national capital.

Earlier, petrol was being sold at Rs 73.62 in Delhi.

It may be noted that oil prices surged more than 15 per cent to their highest level in nearly four months after an attack on Saudi Arabia's oil facilities that knocked out more than five per cent of global oil supply.

However, Petroleum Minister Dharmendra Pradhan had explicitly said that there will be no effect on oil distribution and supply in the country following attacks on the oil stabilisation centres of Saudi oil giant Aramco.

"It is unfortunate that the oil stabilisation centres of Aramco have been attacked. Following the attacks, top executives of Aramco have been contacted. Indian Ambassador in Riyadh contacted the senior management of Aramco to ensure a steady supply to India," Pradhan had said.

"We have reviewed our overall crude oil supplies for the month of September with our Oil Marketing Companies (OMCs). We are confident there would be no supply disruption to India. We are closely monitoring the evolving situation," he added.