Indian Oil raises domestic Group I base oils prices

01 July 2013 11:05  [Source: ICIS news]

SINGAPORE (ICIS)--India’s state-owned oil and gas company Indian Oil has raised its prices of domestic Group I base oils, effective from 1 July, market sources said on Monday.

The company’s SN70 and SN150 prices were up by Indian rupees (Rs) 4.0/litre ($67.20/kl), while prices of SN500 increased by Rs3.50/litre. Its brightstocks prices were higher by Rs5.10/litre.

Local sellers may be prompted to increase their local prices because of the sharp depreciation of the Indian rupee, Indian traders said.  

($1 = Rs59.53)

By: Junie Lin

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