IOC to raise petrol prices from Saturday
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)
- Tweet this
- Share this
- Digg this
- UPDATE 3-U.S. regulator questions Verizon plan to slow data speeds for some
- U.S. resupplies Israel with munitions as Gaza offensive rages
- Landslide near Pune kills 10, scores feared trapped
- Drew Barrymore's half-sister found dead in car near San Diego
- England have Cook to thank for winning position - Root
A group of World Trade Organization (WTO) members has informally discussed adopting a global overhaul of customs rules without India if New Delhi goes ahead with threats to block the deal, sources familiar with the talks said on Thursday. Full Article