By Srinivas Chowdary Sunkara // petrobazaar // 09-01-18.
PETROL AND DIESEL PRICE DAILY REVISION
DIESEL AND PETROL PRICE REVISION ANALYSIS
Petrol prices have soared up by 10 paise per ltr or 0.14% change while Diesel prices have gone up by 17-20 paise per ltr with 0.28 percentage increase around all major metro cities in India as on today from yesterday's price.
Yesterday, Crude oil prices were finely balanced. reduced number of rigs, geo-political tensions in middle east supported oil prices to trade near their highest since May 2015. Prospectus of higher U.S production amid recent price rally continue to promote bearish sentiment. INR touched a high of 63.25 but gave back some of its gains and closed at 63.50/$ on Monday. The weak dollar continues to aid the rupee.
PETROL AND DIESEL PRICE TREND
An increased C&F price of crude oil for both the motor fuels amid continued rally of domestic currency since the beginning of new year fueled both the motor oil prices to go up wards. The underlining fundamentals are suggesting a further increase in motor fuel oil prices although rupee is on positive note. Petrol an diesel price changes are subjected to supply, demand and government policy.
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