:: Fuel Analysis --- ID :: 14668
Diesel price trend
PETROL PRICE TREND

By Srinivas Chowdary Sunkara // petrobazaar // 10-01-18

PETROL AND DIESEL DAILY PRICE REVISION
10/01/2018PETROL PRICEDIESEL PRICE
LOCATIONYESTERDAYTODAYCH+/-YESTERDAYTODAYCH +/-
Delhi70.5370.620.0960.6660.810.15
Kolkata73.2773.360.0963.3263.470.15
Mumbai78.4278.510.0964.4864.670.19
Chennai73.1273.210.0963.9264.090.17

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.

Disclaimer: Views and opinions expressed here are for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com