In India, Diesel and petrol prices are changed daily in line with a rise and fall of global oil prices. Following the daily price revision of auto fuels in India, Diesel oil and petrol prices are unchanged across India today. In Hyderabad, Petrol is being sold at Rs.83.49 and Diesel at Rs.80.14 a liter today. In Delhi, Petrol is priced at Rs.80.43 and diesel at Rs.73.56 per liter. In Kolkata, Petrol is now selling at Rs.82.05 and diesel at Rs.77.06 a liter. In Mumbai, Petrol and diesel are costing Rs.87.19 and Rs.80.11 respectively. Petrol pumps are charging Rs.83.63 and Rs.78.86 per liter respectively in Chennai.
PETROL AND DIESEL DEMAND DRAGGED LOWER IN INDIA
As per the data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum and Natural Gas, Consumption of refined fuels, a proxy for oil demand dipped to 15.68 million tonnes in July, 11.7% lowered compared with a year earlier and 3.5% below the prior month. Diesel consumption, which accounts for about two-fifths of India's overall fuel usage fell to 5.52 million tonnes last month from 6.31Mts in June. The demand for diesel declined in India about 19.3% on annual basis. Sale of gasoline or petrol fell by 10.3% from a year earlier to 2.26 millon tonnes and were down .8% from 2.28 million tonnes in June. Naphtha sales fell 12.4% to 1.28 million tonnes from a year earlier but rose 10% from June. Bitumen sales slipped 4.4% on an annual basis and bout 45% month on month.
BIODIESEL PRICE TRENDS
Biodiesel prices are bench marked with diesel prices in Indian retail market. The retail prices of bio diesel remain unchanged today and trended to follow the changes in diesel prices in India. Bio diesel B100 and B50 graded fuel prices are sold at competitive prices in Hyderabad retail market. Turning to futures, Crude palm oil futures (FCPO) for Oct delivery jumped 40 ringgits to 2683 ringgits and FKLI for August futures prices went down 15.5 ringgits to 1551 ringgits on Bursa Malaysia.
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