Furnace Oil (F.O), Light Diesel Oil (LDO) and Superior Kerosene Oil (SKO) - Industrial are the fuels largely used as a fuel to generate electricity and heat in different sectors. Being market linked, Furnace Oil (FO), Light Diesel Oil (LDO) and Superior Kerosene Oil (SKO) prices are changed by Oil marketing companies (OMCs) on a fortnightly basis in India.
As We predicted, In India, Industrial fuel oil prices nosedived wef 16/10/2019 , for the second fortnight of October across all the oil marketing company depos. The Furnace oil (F.O) basic prices are revised down by Rs.8950 per KL or 23.33% to Rs.29400 per KL, Light Diesel Oil (LDO) prices are decreased by Rs.2830 per KL or 6.38% to Rs.41560/- per KL from Visakha depo and Superior Kerosene Oil (SKO-Industrial) prices are slipped by Rs.1350 or 2.23% to Rs.59183.85 from Vijayawada depo wef 16/10/2019 after a massive upside revision for last fortnight.
Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com