By Srinvas Chowdary Sunkara // petrobazaar // 24-01-18.
PETROL AND DIESEL PRICE - DAILY REVISION
PETROL AND DIESEL PRICE REVISION - ANALYSIS
Petrol prices are moving upwards and shot up by 4-5 paise or 0.06% rise while Diesel prices are spiked by 18-20 paise per ltr with 0.28% increase around all major metro cities in India as on today from yesterday's price.
Crude oil prices are very nearer to Jan, 17 levels. Both the futures prices are sky rocketing with expected increase in growth rate and suspected large drawings in U.S for 10th week. Yesterday, the rupee bounced back with a rise of 9 paise at 63.78/$. Fresh unwinding of the U.S greenback by exporters and banks supported the domestic currency amid record setting spree in domestic equities.
PETROL AND DIESEL PRICE TREND
A small increase in D.P pushed up the RSP of both the motor fuel oil prices since there was no change in C&F price of crude. The bullishness amid strong domestic currency indicates a small increase in fuel oil prices. M.S and HSD price change is subject to supply, demand and government policy.
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