By Srinivas Chowdary Sunkara // petrobazaar // 14-01-18
PETROL AND DIESEL DAILY PRICE REVISION
PETROL AND DIESEL DAILY PRICE REVISION ANALYSIS
Petrol prices continued to rise with 14 paise per ltr or 0.19 percentage while Diesel prices are creeping to new highs with 18-21 paise per ltr with 0.29% increase around all major metro cities in India as on today from yesterday's price.
PETROL AND DIESEL PRICE - WEEKLY ANALYSIS
Petrol prices are soaring to new high levels gained 78 paise with 1.1% jump during the week, a straight fifth weekly gain since December, 2017. Diesel prices ballooned into above Rs.60 price zone with an increase of Rs.1.25 or 2.05% during the week.
During the week, Crude oil prices rose above 3.5% in global oil market fueled by Geo-political concerns, Producers group commitment on production cuts and inventory drawings around the globe. Oil futures closed on Friday with fifth straight weekly gain. The Indian rupee strengthened further by 5 paise/$ or 0.07% during the week on week dollar against other currencies in the international markets.
PETROL AND DIESEL PRICE TREND
An increase of around 1 percent in the average C&F price of crude oil for both the petrol and diesel prices pushed up the domestic fuel oil prices amid strong domestic currency. The Fundamentals of oil market is showing uptrend in fuel prices. Petrol and diesel price change is subjected to supply, demand and government policy.
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