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

   
Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

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

Top News

REUTERS SHOWCASE

Kerry's India Visit

Kerry's India Visit

Kerry presses India on WTO deal ahead of arrival  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

Twitter Results

Twitter Results

Twitter assuages growth concerns for now as shares soar 35 percent  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Fed Meeting

Fed Meeting

Fed seen trimming bond buys, could offer vague rate clues  Full Article 

Reuters India Mobile

Reuters India Mobile

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