New Post has been published on http://www.mixvel.com/fuel-stores-to-rise-diesel-petrol-rates/
Fuel stores to rise diesel, petrol rates
Fuel stores to rise diesel, petrol rates by Feb 16
State fuel stores may a bit raise petrol and diesel values on Friday or Saturday, the chairman of Bharat Petroleum Corp. said on Thursday.
India’s three state run fuel stores – Indian Oil Corp, BPCL and Hindustan Petroleum Corp – tend to move their fuel values in tandem.
India said last month it would allow fuel stores to raise the value of funded diesel by 1 U.S. cent a liter each month and asked bulk clients to pay market rates.
“On diesel values there is a cabinet choice that we can raise values by 0.40 INR 0.50 INR a liter and the next rise is sinking due on Feb 15,” R. K. Singh told Reuters.
He also said fuel stores are now woe a revenue loss of 1.23 INR a liter on retail sales of petrol.
“We might rise petrol prices by 1 INR or so,” he said, adding values of both the fuels will be raised calm.
R. S. Butola, chairman of IOC, the nation’s main refiner and fuel seller, said on Wednesday diesel values will be go over on Friday or Saturday.
A liter of diesel now cost 47.65 INR for retail clients in New Delhi while petrol is sold at 67.26 INR, giving to IOC’s website.