As we predicted, In India, Industrial fuel oil prices advanced by around 3 –  5 pct wef 16/02/19, for the second half of February across all the oil marketing company depos. Furnace oil (F.O) and Light Diesel Oil (LDO) prices surged up on 16/02/2019 in line with a moderate increase in global oil markets during the recent weeks. Furnace oil (F.O) prices are increased by 13.75 pct and Light Diesel Oil (LDO) prices are pushed up by 10.43 pct since January 16th.

As per the publications of oil marketing companies, At Visakha depo, Furnace oil prices are rose by Rs.1620/KL to Rs.34100/KL and LDO prices are increased by Rs.1180/KL to Rs.40980/KL. In the Singapore market, IFO 180 cSt and 380 cSt graded fuel oil prices were ripped up significantly by $20 or 4.59 pct where as the rupee was depreciated by 66 paise against $ for last fortnight.

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