By Srinivas Chowdary Sunkara // petrobazaar // 28-01-18.
PETROL AND DIESEL PRICE REVISION - ANALYSIS
PETROL AND DIESEL PRICE REVISION - MONTHLY ANALYSIS
Petrol and Diesel prices are soaring up to new heights in over three years due to upsurge in global crude oil prices. In Delhi, Petrol prices surged up by Rs.2.8 per ltr with 3.92% whereas Diesel prices spiked by Rs.4.15 or 6.95% climb since Jan, 1st. The major contributor of ICB, Brent crude grade prices were jumped by $3.65 while strong rupee supported with a rise of 34 paise/$ during the month.
PETROL AND DIESEL PRICE TREND - CONCERNS
An increase of $3.5 in C&F price of crude for petrol was in consonance with global oil market which has pushed up the RSP by Rs.2.74 inclusive of 60 paise of VAT. The C&F price of crude for Diesel was largely increased by $5.59 which has fueled RSP by Rs.4.1 inclusive of 60 paise VAT component.
Analysts are in the opinion that peaking oil prices of $128 in 2013 resulted in the petrol price of Rs.83.62 per ltr in Mumbai whereas recent $70 crude levels inflated motor fuel prices to 40 months highest levels caused concern on retail price index.
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