By Srinivas Chowdary Sunkara // petrobazaar // 12-12-2017.
PETROL AND DIESEL PRICE DAILY REVISION
PETROL AND DIESEL PRICE REVISION ANALYSIS
Petrol price are dipped by 3 paise or 0.04% while Diesel prices dropped by 3 paise with 0.05% change as on today from yesterday's price around all major metro cities in India except in Mumbai where petrol and diesel price are jumped up by 2 paise apiece.
Yesterday, Global crude oil prices popped higher on Geo-political risks expected after a bomb explosion in the Newyork port. prices were capped on that assumption that higher number of rigs may prompt U.S to increase production which will undermine the efforts of OPEC production cut agreement to limit the global oil glut. The INR gained 8 paise to end at a fresh one-week high of 64.37/$ on persistent selling of U.S currency ahead of release of industrial production and retail inflation data.
PETROL AND DIESEL PRICE TREND
Petrol and Diesel prices are reduced on the low C&F price of crude amid strong currency. The motor fuel prices are trended to go down slightly as the global oil prices were on down trend during the last week. Petrol and Diesel price changes are subjected to supply, demand and government policy.
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