By Srinivas Chowdary Sunkara // petrobazaar // 16th January, 2019.
As we predicted in our recent commentary on fuel oil prices, In India, Industrial fuel oil prices edged up by 1.03 pct wef 16/01/19, for the second fort night of January across all the oil marketing company depos. Furnace oil (F.O) and Light Diesel Oil (LDO) prices are inched up on 16/01/2019 in line with a moderate increase in global oil markets during the recent weeks. Furnace oil (F.O) prices are sagged down by 22.56 pct and Light Diesel Oil (LDO) prices nosedived by 24.92 pct since 16th Oct, 2018.
As per the publications of oil marketing companies, At Visakha depo, Furnace oil prices are went up by Rs.310/KL to Rs.30150/KL and LDO prices are up by Rs.230/KL to Rs.37250/KL. In the Singapore market, IFO 180 cSt and 380 cSt graded fuel oil prices were ripped up significantly by $54 or 13.5 pct during recent days where as no remarkable change is observed in local currency for last couple of days.
Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com