By Srinivas Chowdary Sunkara // petrobazaar // 11-01-18.
PETROL AND DIESEL DAILY PRICE REVISION
DIESEL AND PETROL PRICE REVISION ANALYSIS
Petrol and Diesel prices are creeping to highest levels. Petrol prices are jumped by 4 paise or 0.05 percentage while Diesel prices are bumped up by 18-21 paise or 0.29 percentage increase around all major metro cities in India as on today from yesterday's price.
Yesterday, Crude oil prices clung to three year's highs on tighter U.S market. Oil prices were supported by a surprise drop in U.S production and lower inventories although analysts warning of overheated market. The rupee was strong at 63.66/$ on mild selling of dollar by exporters yesterday.
PETROL AND DIESEL PRICE TREND
Soaring crude oil prices lifting the moving average price of crude oil for motor fuels amid strong domestic currency which in turn pushing the MS and HSD prices. An upside movement in global oil market is indicating the further boosting in domestic oil prices. However increase in oil prices 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