IOC to raise petrol prices from Saturday

Fri Sep 13, 2013 8:04pm IST

A worker fills a car with petrol as he gestures towards the fuel barometer for the passenger to check, at a fuel station in Kolkata September 15, 2011. REUTERS/Rupak De Chowdhuri/Files

A worker fills a car with petrol as he gestures towards the fuel barometer for the passenger to check, at a fuel station in Kolkata September 15, 2011.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

Stocks

   

REUTERS - Indian Oil Corp (IOC)(IOC.NS), the country's biggest refiner, said it would raise petrol prices by 2.6 percent from Saturday due to weakness in the rupee and rising petrol prices in the global markets in the first fortnight of the month.

India's three state-run fuel retailers - IOC, Bharat Petroleum Corp (BPCL.NS) and Hindustan Petroleum Corp (HPCL.NS) - tend to move their prices together.

The government deregulated petrol prices in June 2010.

In January, India allowed fuel retailers to raise the price of subsidised diesel in small amounts every month and asked bulk buyers to pay market rates.

(Reporting by Nidhi Verma in New Delhi; Editing by Prateek Chatterjee)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Barack Obama in India

Reuters Showcase

Coal Mining

Coal Mining

India to open coal to commercial mining firms soon, minister says  Full Article 

RBI Loan Rules

RBI Loan Rules

RBI relaxes overseas loan recast rules   Full Article 

E-commerce Firms

E-commerce Firms

Amazon, e-commerce rivals fuel commercial property boom in India  Full Article 

Growth Forecasts

Growth Forecasts

Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll.  Full Article 

Uber is Back

Uber is Back

Uber back in Delhi; govt says must await approval.  Full Article 

Markets at Record

Markets at Record

Sensex rises to record after ECB stimulus programme.  Full Article 

Pharma Sector

Pharma Sector

Ipca Labs hit by FDA ban on plant for standard violations.  Full Article | Related Story 

Forex Reserves

Forex Reserves

India FX reserves at record high as RBI fortifies defences  Full Article 

QE for Euro Zone

QE for Euro Zone

ECB launches 1 trillion euro rescue plan to revive euro economy.  Full Article 

Reuters India Mobile

Reuters India Mobile

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