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Saturday, 17 September 2016

MCX Market Tips | Crude Oil Updates

The oil companies after deduction of twice the ordinary people have been jolted. Rs 3.38 to Rs 2.68 per liter and diesel petrol companies have been costly. After the hike, petrol in Delhi will be 60.09 per liter from Rs 63.47. However, diesel Rs 50.27 per liter from Rs 52.94 to get in. Both increased by around 5% rate is applied after midnight Wednesday. Also Thursday, the government subsidized LPG cylinder price hiked by Rs 2.

Crude zoomed in petrol, diesel prices - In August, Brent crude jumped 18 per cent. Crude was 42.14 dollars a barrel on August 1. On August 30, crude was trading around 49.70 dollars a barrel. The highest level of 50.89 touched in August crude.

What would be the effect?

Will have a direct impact on the prices of commodities. If further retain it fast so the whole is expected to rise in inflation. 

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