By Srinivas Chowdary Sunkara // petrobazaar // 1st Oct, 2018.
In India, Furnace oil (FO) basic prices are revised up by Rs. 1500 per Kl or Rs.1750 per Mt by all the oil marketing companies on 1st Oct, 2018 across all the depots. FO price is increased by 5 pct from earlier quoted price. Fuel oil is sold at Rs.45677 per KL or Rs.47613 per Mt including GST @18% at Visakha depo. Furnace oil is quoted at Rs.40290 plus GST in Chennai where as in Mumbai, FO is retailing at Rs.39930 + GST per Mt.
Fuel oil 180 cSt graded prices in the international markets were jumped by $30 with 5.91 pct during the second half of Sep. INR was averaged at Rs.72.49/$ during the same period. Crude market speculation, Expected tightening of fuel oil imports into Asian markets inflated the fuel oil prices in international markets.
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