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

  • Most Popular
  • Most Shared

REUTERS EXCLUSIVE

REUTERS SHOWCASE

Modi In U.S.

Modi In U.S.

Obama, Modi work to deepen improving U.S.-India ties  Full Article | Related Story 

Factory Activity

Factory Activity

Factories expand at slowest pace this year in September  Full Article 

Videocon d2h IPO

Videocon d2h IPO

Videocon d2h files for up to $113 million IPOs  Full Article 

Asian Economy

Asian Economy

Asian factories slow in Sept, push inflation ever lower  Full Article 

EBay Divests PayPal

EBay Divests PayPal

EBay follows Icahn's advice, plans PayPal spinoff in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

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