By Srinivas Chowdary Sunkara // petrobazaar // 16th May, 2019.
Furnace Oil (F.O) and Light Diesel Oil (LDO) are the fuels largely used as a fuel to generate electricity and heat in a number of sectors. Being market linked, Both Furnace Oil(FO) and Light Diesel Oil (LDO) prices fluctuates on fortnightly basis.
As predicted, In India, Industrial fuel oil prices are reduced wef 16/05/19, for the second half of May across all the oil marketing company depos. The Furnace oil (F.O) basic prices are revised down by Rs.580 per KL after a jump in the previous revision while Light Diesel Oil (LDO) prices are lowered by Rs.760 per KL as on 16/5/2019 in line with a slump in Bunkering markets across the ports during the recent weeks. Furnace oil (F.O) and Light Diesel Oil (LDO) prices are pushed up by above 9 pct 10 pct since January 1st.
As per the publications of oil marketing companies, At Visakha depo, Furnace oil (F.O) prices are pushed down by Rs.580/KL to Rs.35470/KL and LDO prices are dipped by Rs.760 at Rs.43360/KL. In the Singapore market, IFO 180 cSt and 380 cSt graded fuel oil prices were slumped by 4.18% where as the rupee was appreciated by 0.49 paise against $ during the last fortnight.