By Srinivas Chowdary Sunkara // petrobazaar // 18th June, 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 FO and LDO prices fluctuates on fortnightly basis.
As We predicted, In India, Industrial fuel oil prices are decreased wef 16/06/19, for the second half of June across all the oil marketing company depos. The Furnace oil (F.O) basic prices are revised down by Rs.1370 per KL continuing previous downside revision while Light Diesel Oil (LDO) prices are decreased significantly by Rs.2850 per KL as on 16/06/2019 in line with a slump in Bunkering markets across the ports during the recent weeks. Furnace oil (F.O) are down by 7.77% and Light Diesel Oil (LDO) prices are decreased by above 5% pct since the beginning of the financial year.
As per the publications of oil marketing companies, At Visakha depo, Furnace oil (F.O) prices are revised down by Rs.1370/KL to Rs.33370/KL and LDO prices are decreased by Rs.2850 at Rs.40710/KL. In the Singapore market, IFO 180 cSt and 380 cSt graded fuel oil prices were shrank by $37 or 8.53% where as the rupee was depreciated by 33 paise against $ during the last fortnight.