The crude price rise has been fuelled substantially by the voluntary production cuts by Russia – the country that gave India cheap oil in the past y
International benchmark Brent crude is trading at $84.61 per barrel for the first time in seven years
On Thursday, petrol prices were cut by 16 paise and diesel by 14 paise across the country
Fresh tensions in the middle east and expectation of increase in demand of crude oil are also currently providing support to the crude oil prices.