New Delhi: Fuel retailers managed by the State on Friday collect diesel prices with simple Paise 20 a liter, the first increase since July 17 – still suffer from a recovery of less than 45 Paise per liter – as a Benchmark of Brent Crude $ 77.65 per barrel on High recovery hope.
The price of gasoline is left unchanged since recovery that is less “bearable” in Paise around 18-20, an executive with the word oil company managed by the government.
The retailer did not raise the price of the pump in the last 67 days with informal signals from the government, even though it was rude to the north with some brief sluggish in August.
While retail rates are not raised to reflect higher crude oil prices, they immediately reduce several times of oil slipping.
Between August 18 and September 5, gasoline prices were reduced with a total of 65 Paise per liter in four installments and diesel prices of Rs 1.05 in seven rounds of reduction.
The sloping revision caused recovery of around 20-22 Paise on one liter of gasoline and 65 Paise on Diesel, said the source.
As a leading Wall Street Banker Goldman Sachs and the largest oil traders in the world of Vitol and Trafigura see oil at $ 90-100 per barrel, fuel retailers are preparing for increasing recovery because they doubt there will be plenty of space for them to raise pump prices in the Uttar polls Pradesh Uttar.
They connected long pauses on price increases before the old assembly poll in five countries, including Bengal, which has resulted in recovery less than Rs 4 on a liter of gasoline and Rs 2 on Diesel.
Prices increase on the vote day ends.
Since July, Indian crude costs have increased by around $ 4 from $ 70 per barrel to more than $ 74.
Prices of gasoline and diesel rose around 60-70 Paise per liter for every increase in crude oil prices.
Obviously, the price of the pump has several catch-ups to do with current crude oil content.
Technically, free fuel retailers to set retail rates.
But in practice, the ministry, as the owner, offers verbal cues about prices to companies managed by countries that dominate almost 90 percent of the country’s fuel retail market.
Crude oil has shot since August 20 because of concerns over demand in Asia-Pacific subside and trends remain positive in the United States and Europe.
In addition, high excise and high VAT experience the impact of the increase in crude oil prices up.
No wonder gasoline still costs above Rs 100 per liter in the country and diesel more than RS 85.
Both the International Energy Agency and OPEC sees global demand to exceed supply this year, which will remain a oil price company in the mid-provision.
The oil market also received support from several OPEC members struggling to increase production according to plan, while demand rises.