REUTERS - Indian Oil Corp (IOC), the country's biggest refiner, will raise diesel prices by 2.1 percent from Saturday, it said in a statement.
India's three state-run fuel retailers -- IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp -- tend to move their prices together.
India had allowed fuel retailers in January to raise the price of subsidised diesel by 1 U.S. cent a litre every month and asked bulk buyers to pay market rates.
A hike of 0.9 rupees (2 US cents) will cover the increases meant for April and May, the statement said. The retailers had held back the price increase last month ahead of elections in Karnataka.
(Reporting by Nidhi Verma; editing by Rajesh Kumar Singh)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app