By Srinivas Chowdary Sunkara // petrobazaar // 01-02-18.
PETROL AND DIESEL - DAILY PRICE REVISION
PETROL AND DIESEL PRICE REVISION - ANALYSIS
Petrol prices are inched up by 12-14 paise per ltr with 0.2% increase while Diesel prices are pushed up by 11- 12 paise per ltr or 0.17% around all major metro cities in India as on today from yesterday.
yesterday, Crude oil prices gained 0.4% and continued to extend upward trend today as the record compliance rate offset the news that U.S production topped 10 million barrels per day for the first time in nearly half a century. The rupee weakened by 9 paise to 63.67/$ in the opening trade after yesterday's closing of 2 paise higher at 63.58/$ due to Foreign investors withdrawal.
PETROL AND DIESEL PRICE TREND
A small increase in C&F price of crude amid strong currency for both the petrol and diesel, pushed up the D.P price and VAT components which have made the motor fuels costly. The underlining fundamentals in global oil market amid expected weak currency is suggesting further increase in domestic fuel prices. petrol and diesel price change is subject to supply, demand and government policy.
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