By Srinivas Chowdary Sunkara // petrobazaar // 16th August, 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 revised by Oil marketing companies (OMCs) on a fortnightly basis in India.
As We predicted, In India, Industrial fuel oil prices are decreased sharply wef 16/08/2019 , for the second fortnight of August across all the oil marketing company depos. The Furnace oil (F.O) basic prices are revised down by Rs.2450 per KL to Rs.34310 per KL and the Light Diesel Oil (LDO) prices are decreased by Rs.850 per KL to Rs.41970/- per KL from Visakha depo wef 16/08/2019 after an upward revision for last one month. Furnace oil (F.O) prices are reduced by 13% and Light Diesel Oil (LDO) prices are shrank by above 0.6 pct .
In Singapore market, IFO 180 cSt and 380 cSt graded fuel oil prices were slumped by $102 or 22.78% where as the rupee was depreciated by Rs.2.65 paise against $ during the last fortnight.
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