By Srinivas Chowdary Sunkara // petrobazaar // 18-01-18
PETROL AND DIESEL DAILY PRICE REVISION
PETROL AND DIESEL PRICE REVISION AND ANALYSIS
Petrol and Diesel prices are skyrocketed since December, 2017. Today Both the fuels are raised by 17 -21 paise per ltr around all major metro cities in India as on today from yesterday's price.
Crude oil prices are trading near to $70. A threat to Nigeria's petroleum industry supported the oil prices. API reported that crude stocks are falling while product stocks are rising. Rupee was trading marginally higher at 63.84/$ after rupee bounced back yesterday. Domestic equity markets soaring to new highs and dollar losing sheen against other currencies pushing the domestic currency.
PETROL AND DIESEL PRICE TREND
An increase of 0.21% in C&F price of crude oil for both the motor fuel oils aid the rising prices. The bullishness in the international crude market suggest further jump in domestic fuel prices unless government intervene to subsidize. MS and HSD price changes are subject to supply, demand and government policy.
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