By Srinivas Chowdary Sunkara // petrobazaar // 13-12-17.
PETROL AND DIESEL PRICE DAILY REVISION
PETROL AND DIESEL PRICE REVISION ANALYSIS
Petrol and Diesel prices are brought down by 2 paise per ltr each with 0.02% and 0.03% reduction apiece as on today from yesterday's price around major metro cities in India except Mumbai where both the fuels has shown an increase of 2 paise subjectively.
Yesterday, Brent oil prices crossed $65 mark on the news that the forties pipeline in U.K is closed for maintenance due to the cracks found during last week. U.S crude stocks are expected to drop for fourth consecutive week. Both the news were the underpins for the bullish market around. The INR showed a sign of fatigue after a two day up move and ended 3 paise lower at 64.40/$. Currency traders and speculators are cautious ahead of key economic data. Rupee is expected to be volatile till Thursday.
PETROL AND DIESEL PRICE TREND
Both the motor fuel oil retail prices are down despite of no change in C&F and currency average prices. Petrol and diesel prices are expected to move either side slightly and fuel price changes are subjected to supply, demand and Indian government policy.
Disclaimer: Views and opinions expressed here are for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com