By Srinivas Chowdary Sunkara // petrobazaar // 1-4-2018.
PETROL AND DIESEL PRICE REVISION DURING 1ST QUARTER
PETROL AND DIESEL PRICE CHANGE - QUARTERLY ANALYSIS
In New Delhi, Petrol prices were soared up by Rs.3.58 per ltr with 5 percent increase and diesel prices were shot up by Rs.4.76 per ltr or 7.7 percentage upward change during the first quarter (1/1/18-31/3/18).
Jan month accounted for majority of the increase and a jump of 7 percentage in Brent price pushed C&F price of crude for petrol by 5% and diesel by 7.5% which in turn fueled up the RSP of both the petrol and diesel by 4.36 percentage and 7 percentage respectively during the month.
During the first week of Feb, Motor fuel oil prices continued uptrend following global oil market bullishness and descended from the second week on wards. After a 5-6 % plunge in crude oil prices, Both the fuel prices lost 3 percentage during the month amid tumbled rupee.
Geo-political tensions, bearish stock reports, fear of over supply along with U.S production surge supported oil prices to go up by above 5 percentage during the March month. A surge of above 2 % in the C& F price of both the motor fuels driven by global oil markets amid weak domestic currency pushed petrol and diesel prices to go up above 2.5 percentage during the month.
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