01 February 2013 09:45 [Source: ICIS news]
SINGAPORE (ICIS)--India’s Hindustan Petroleum Corp Ltd (HPCL) has announced a price reduction in domestic Group I prices, buyers said on Friday.
Prices were lower by Indian rupees (Rs) 2.20/litre (4 US cents/litre) for SN70 and SN150, Rs1.29/litre for SN500 and Rs1.20/litre for brightstock. The new prices take effect on 1 February.
Buyers added that the prevailing weak demand in the Group I base oil markets could have prompted the price reduction.
The last Group I base oil price reduction by HPCL was on 1 December 2012.
($1 = Rs53.28)
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