India depends on oil imports to meet about 85 per cent of its domestic oil needs. Therefore, the international prices of crude oil have a significant bearing on the economy.?
Petrol and diesel prices increased by 35 paise per litre on Wednesday after two days of no activity. At the time of publish, petrol prices in Delhi peaked at a record high of Rs 106.19 for every lite and Rs 112.11 per litre in Mumbai.?