Good news have trickled in after a long time. In scenario of rising crude prices and uncertainty over the pricing structure the world over, the recent reduction in naphtha prices has given the much needed relief to the end-users.
Naphtha prices were slashed by 16 per cent two days ago. This reduction comes after a continuous rise in prices trying to build in the risk of expected high oil prices due to the invasion in Iraq and as a much relief to manufacturers using naphtha as one of the main input ingredients.
While, the reduction in naphtha prices has been welcomed by the user industry, caution is still prevalent.
The interministerial group of ministers meets daily to take the stock of the situation from the oil companies and if the war in Iraq continues beyond third week of April, the prices of naphtha will be increased, informed sources say.
