Indian Oil hikes Group I SN500, brighstock base oils prices

02 August 2013 07:32  [Source: ICIS news]

BRISBANE (ICIS)--State-owned oil and gas company Indian Oil has raised its domestic prices for some grades of Group I base oils effective 1 August, market sources said on Friday.

The company’s prices for SN500 were increased by Indian rupees (Rs) 1.70/litre, while brightstock prices were raised by Rs2.40/litre, they said.

Prices of its SN70 and SN150 grades were unchanged.

The company last hiked base oil pries on 1 July.

Local sellers may have increased their prices in the domestic market because of the weakening Indian rupee and on the back of rising crude oil prices, traders said.  

($1 = Rs60.57)

By: Junie Lin

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