By Srinivas Chowdary Sunkara // petrobazaar // 7-12-2017.
PETROL AND DIESEL DAILY PRICE REVISION
PETROL AND DIESEL PRICE REVISION ANALYSIS
Petrol prices are reduced by 1 paise per ltr or 0.01% while Diesel prices are remained unchanged as on today from yesterday's price around all major metro cities in India except Mumbai where petrol prices are pushed up.
Yesterday, Crude oil prices in global market could not impress on traders and investors as the product stocks build up offset the impact of surprise drawings in weekly crude stocks in U.S. OPEC's compliance rate to production cuts increased to 106% in November compared to previous month. Yesterday, The INR weakened further by 14 paise to close at 64.52/$ in an extreme bearish undertone. RBI's monetary policy, increased demand for greenback from importers weighed on domestic currency.
PETROL AND DIESEL PRICE TREND
Petrol prices are decreased after a reduction in C&F price of petrol along with strong currency with 0.07%. Diesel prices are remained unchanged despite of a positive change in C&F price of crude for HSD. Indian motor fuel oil prices may move either side slightly. Petrol an diesel price changes are subjected to supply, demand and government policy.
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