India’s Group I base oil producers cut prices on 1 October

01 October 2012 09:54  [Source: ICIS news]

SINGAPORE (ICIS)--India’s domestic base oil refiners Hindustan Petroleum Corp Ltd (HPCL) and Indian Oil (IOC) have reduced their prices of all Group I base oils except SN70, market sources said on Monday.

Both refiners’ SN150 prices fell by Indian rupees (Rs) 2.50/litre (5 cents/litre) to Rs63.95-66.40/litre, while their SN500 prices fell by Rs2.70/litre to Rs 65.66-70.86/litre and brightstock prices fell by Rs3.00/litre to Rs 77.95-79.06/litre, according to market sources.

The new prices come into effect on 1 October, they added.

HPCL last cut its Group I base oil prices on 1 September.

($1 = Rs52.86)

By: Serena Seng

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