$80 per barrel again, would you be forced to absorb the hit again if it surges too much, coupled with the rupee being at a record low now?
The crude is not threatening to touch, it almost touched $80 a day back and it is hovering around that. But as I said in the past, $80 had been a strong resistance mark for the crude in the recent past and it has bounced back from $80 a couple of times. But yesterday’s announcement of some of the oil producing countries being comfortable with the price of $80 and at the same time, the dollar touching a high, additional statements from US regarding the trade war and of course little bit of haziness on the Iran sanctions will continue to keep crude at this level.
So far, the government has shown to support the free marketing of petrol and diesel pricing as per policy and we are continuing with that. Also, I do not think there is a possibility of us absorbing a part of it at present. Read More
Latest posts by ET Energy World (see all)
- India’s fuel demand fell 1.8 per cent year on year in November - December 12, 2018
- Land for Ratnagiri refinery should be available by 2019: B Ashok, Ratnagiri Refinery CEO - December 12, 2018
- Pradhan on OPEC: Requirements of consuming nations should be considered - December 11, 2018