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Jio-bp Raises Petrol by Rs 5, Diesel by Rs 3
Jio-bp has made petrol and diesel more expensive at its fuel stations.
Petrol went up by Rs 5 per litre, and diesel went up by Rs 3.
The new prices started on October 11.
In Haryana, a litre of petrol cost about Rs 109.80, while diesel cost about Rs 97.75.
Nayara Energy had made the same-sized increase eight days earlier.
Government-run fuel companies did not change their regular prices.
The article says international oil costs are putting pressure on fuel sellers’ margins.
India imports about 90% of the crude oil it needs.
Jio-bp raised petrol prices by Rs 5 per litre and diesel prices by Rs 3 per litre.
The revised prices took effect at 6 am on Sunday, October 11.
In Haryana, petrol cost around Rs 109.80 per litre and diesel Rs 97.75 per litre after the increase.
The move followed Nayara Energy’s October 3 increase of Rs 5 for petrol and Rs 3 for diesel.
State-run Indian Oil, BPCL and HPCL kept regular fuel prices unchanged as international oil costs pressured private retailers’ margins.
- Who
- Jio-bp, backed by Reliance Industries, raised its fuel prices; Nayara Energy had also raised prices earlier.
- What
- Petrol increased by Rs 5 per litre and diesel by Rs 3 per litre.
- Where
- At Jio-bp outlets in India; in Haryana, post-increase prices were about Rs 109.80 per litre for petrol and Rs 97.75 for diesel. Rajasthan prices also rose, varying by city.
- When
- The Jio-bp prices took effect at 6 am on Sunday, October 11; Nayara Energy raised prices on October 3.
- Why
- Elevated international crude and refined-product costs were squeezing retail marketing margins.
Private fuel retailers
State-run fuel retailers
Pump price changes
Private fuel retailers
Jio-bp and Nayara Energy raised petrol and diesel prices as higher crude and refined-product costs squeezed their marketing margins.
State-run fuel retailers
Indian Oil, BPCL and HPCL kept regular petrol and diesel prices unchanged, widening the price difference with private retailers.
Customer response
Private fuel retailers
A fuel retailer said higher pump prices could make quantity restrictions less relevant if customers switch to cheaper outlets.
State-run fuel retailers
The article reports that state-run retailers’ unchanged prices made their fuel cheaper relative to private retailers, but gives no direct statement from those companies.
Key facts
- Jio-bp petrol increase
- Rs 5 per litre
- Jio-bp diesel increase
- Rs 3 per litre
- Effective time
- 6 am, Sunday, October 11
- Haryana petrol price after revision
- Around Rs 109.80 per litre
- Haryana diesel price after revision
- Rs 97.75 per litre
- Nayara Energy increase
- Rs 5 per litre for petrol and Rs 3 for diesel from October 3
- India's crude oil imports
- About 90% of its requirement
Sources
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