01 October 2012 10:27 [Source: ICIS news]
The new prices will take effect from 1 October onward, sources said.
IOC has reduced its 150N prices by Indian rupees (Rs) 2.50/litre ($0.05/litre) to Rs67.25/litre and its 500N prices by Rs0.10/litre to Rs71.46/litre. However, the refiner kept its 70N prices at Rs76.10/litre, stable from September.
While BPCL raised its Group II+ 65N prices by Rs1.40/litre to Rs71.50/litre, it reduced its 150N prices by Rs3.10/litre to Rs65.80/litre and its 500N prices by Rs1.70/litre to Rs67.80/litre.
Market sources said the prices were lowered largely because of weak demand and the availability of offers of competitively priced imports of Group II base oils.
($1 = Rs52.86)
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