Fuel retailers to raise petrol, diesel prices

Fri Feb 15, 2013 10:26pm IST

A worker prepares to fill a jerry-can at a fuel station in Kolkata January 18, 2013. REUTERS/Rupak De Chowdhuri/Files

A worker prepares to fill a jerry-can at a fuel station in Kolkata January 18, 2013.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

Stocks

   

REUTERS - State fuel retailers plan to raise petrol prices by about 2.7 percent and diesel by about 1 percent from Saturday due to rising global crude prices, officials at the companies said on Friday.

Three state-run fuel retailers - Indian Oil Corp (IOC.NS), Bharat Petroleum Corp (BPCL.NS) and Hindustan Petroleum Corp (BPCL.NS) - tend to move their prices together.

India liberalised petrol prices in June 2010, but the government continues to unofficially dictate prices to refiners.

India said last month it would allow fuel retailers to raise the price of subsidised diesel by 1 U.S. cent a litre every month and asked bulk buyers to pay market rates.

While an IOC spokeswomen said her firm was still calculating the retail prices, sources at the other two refiners said a litre of gasoline will cost an extra 1.79 to 1.80 rupees a litre in Delhi and that diesel will be sold at 48.16 rupees a litre.

IOC in a statement said the price of a litre of petrol will increase by 1.50 rupees excluding local taxes, and diesel by 0.50 rupees.

Petrol prices of the three firms vary marginally, while diesel costs the same at their fuel stations.

(Reporting by Nidhi Verma; Editing by Sunil Nair and Jane Baird)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Trade Deal

REUTERS SHOWCASE

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

 Boosting Output

Boosting Output

NMDC plans to boost iron ore output by two-thirds  Full Article 

Apple Results

Apple Results

Apple margin concerns fade, focus shifts to iPhone launch  Full Article 

Photo

Food Scandal

Five held in China food scandal probe, including head of Shanghai Husi Food   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage