By Srinivas Chowdary Sunkara // petrobazaar // 05-02-18
PETROL AND DIESEL PRICE - DAILY REVISION
PETROL AND DIESEL PRICE REVISION - ANALYSIS
Petrol prices are up by 15-16 paise per ltr or 0.2 percentage and Diesel prices are raised by 7-8 paise with 0.11 percentage increase around all major metro cities in India as on today from yesterday.
Crude oil prices stalled rally and fell on Friday due to surge in dollar backed by strong U.S job data. Global oil prices are expected to continue bearish trend on addition of oil rigs by U.S drillers. The rupee extended losses on Friday for the second straight session weakening by 4 paise to 64.06/$ as traders were cautious in view of upward revision of fiscal deficit target and net borrowings for the currency fiscal in the union Budget.
PETROL AND DIESEL PRICE TREND
An upward trend in C&F price of crude for both the motor oil fuels amid weak domestic currency/$ pushed up the D.P and VAT components which inflated the RSP of MS and HSD. The bearish trend in global oil market along with strong currency indicate a small increase in motor fuels in India. Petrol and Diesel price change is subject to supply, demand and government policy.
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