In India, Industrial fuel oil prices dropped by 5- 9 pct wef 1/1/2019, for the first fort night of Jan, 2019 across all the depos. Furnace oil (F.O) and Light Diesel Oil (LDO) prices are cut down on 1/1/2019 in line with the further slump in global oil markets during the recent weeks. Furnace oil (F.O) prices plummeted 28.64 pct and Light Diesel Oil (LDO) prices nosedived by 25.25 pct since 16th Nov, 2018.
As per the publications of oil marketing companies, At Visakha depo, Furnace oil prices are dipped by Rs.2890-/KL or 8.82 % to Rs.32730/KL from earlier price and LDO prices are slid by Rs.2220/KL to Rs.37020/KL or 5.66% from its previous price. In the Singapore market, IFO 180 cSt and 380 cSt graded fuel oil prices shrank by $47 or 8.73 pct where as the rupee gained Rs.0.52/$ during the recent past.