By Srinivas Chowdary Sunkara // petrobazaar // 1st Sep, 2019.
Furnace Oil (F.O) and Light Diesel Oil (LDO) are the fuels largely used as a fuel to generate electricity and heat in different sectors. Being market linked, Both Furnace Oil (FO) and Light Diesel Oil (LDO) prices are changed by Oil marketing companies (OMCs) on a fortnightly basis in India.
As We predicted, In India, Industrial fuel oil prices are decreased sharply wef 01/09/2019 , for the first fortnight of September across all the oil marketing company depos. The Furnace oil (F.O) basic prices are revised down by Rs.3070 per KL to Rs.31240 per KL and the Light Diesel Oil (LDO) prices are decreased by Rs.690 per KL to Rs.41280/- per KL from Visakha depo wef 01/09/2019 for the second time in a row. Furnace oil (F.O) are reduced by 16% and Light Diesel Oil (LDO) prices are shrank by above 3.65= pct .
In the Singapore market , A large slump of $31 or 7.15% in the average price of IFO 180 cSt and 380 cSt graded fuel oil prices along with the depreciation of Rs.1.55 paise against $ contributed to the downside revision in India.
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