By Srinivas Chowdary Sunkara // petrobazaar // 10-01-18
PETROL AND DIESEL DAILY PRICE REVISION
PETROL AND DIESEL PRICE REVISION ANALYSIS
Petrol price shot up by 9 paise or 0.12 percentage while Diesel prices mounted up by 15-19 paise with 0.24 percentage upward change around all major metro cities in India as on today from yesterday's price.
Yesterday, Both the crude oil futures in global markets soared upwards by above 1.5%. Analysts consensus for further inventory drawings in U.S and a dip in U.S rig count fueled WTI in Nymex to 3 years highs after Dec, 2014. Geo-political tensions and investment flows aided the Brent oil price to higher levels since May, 2015. The rupee had dropped sharply by 20 paise to end at a fresh one-week low of 63.71/$ on continued uptick in dollar demand from importers and banks amid soaring oil prices.
PETROL AND DIESEL PRICE TREND
A surge in the moving average price of crude oil for both MS and HSD pushed up both the motor fuel oil prices after factoring domestic currency movement. Petrol and Diesel oil prices are trended to go further up based on the fundamentals. However Motor fuel oil price changes are subjected to supply, demand and government policy.
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