Aramco unit attack in Saudi Arabia's Jeddah may raise crude, LPG prices

Petrol price on Sunday was hiked by 50 paise a litre and diesel by 55 paise, taking the total increase in rates since resumption of daily price revision less than a week back to Rs 3.70-3.75 per litre

Along with the war in Ukraine, the missile attack and fire at an Aramco oil distribution facility in Saudi Arabia’s Jeddah is likely to raise crude oil prices further.

Also, the availability of liquefied petroleum gas (LPG) could be hit and LPG prices could go up further.
 

In 2019, when a similar attack happened in Saudi Aramco’s facilities, a shortfall in assured supply from Aramco resulted in a huge booking backlog for LPG across states such as Maharashtra, Karnataka, Punjab and Goa. This backlog extended up to even 15 days.
 

On the other hand, industry sources said that oil marketing companies