By Srinivas Chowdary Sunkara // petrobazaar // 22-12-2017.
PETROL DIESEL DAILY PRICE REVISION
PETROL DIESEL PRICE REVISION ANALYSIS
Petrol is burdened with 8 paise per ltr or 0.11% upward change while Diesel prices are increased with 16-25 paise or 0.1% raise as on today from yesterday's price around all major metro cities in India.
Yesterday, Crude oil prices in global markets jumped as U.S crude stocks nose dives while production is getting reached to 10K mark. Gasoline stocks were reported to be high during the last week. INR ended 5 paise up at 64.06/$ on Thursday after recouping overnight losses. Currency traders are preferred to stay on sidelines due to Christmas holidays. Rupee was supported on bouts of selling of the greenback by exporters and banks.
PETROL DIESEL PRICE TREND
Raise in Dealer price along with VAT component pushed up petrol prices despite of unchanged averaged C&F price of crude oil for petrol amid strong currency. Diesel prices are inflated due to spike in C&F price of crude oil for Diesel after factoring the strong currency. Increased dealer price along with VAT component resulted into hike in diesel price. Petrol and diesel prices are indicated to go up on bullishness in global markets. Fuel price changes are subjected to supply, demand and government policy.
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