IndianOil may raise premium fuels prices
New Delhi   14-May-2008
State-run refinery-cum-marketing company Bharat Petroleum is considering increasing prices of premium quality auto fuels to partly help cut down rising revenue loss due to spurt in crude oil prices, a senior company official said. "We are continuously evaluating the option of increasing prices of branded fuels. We have to do something due to the rising under-recoveries," BPCL Director Marketing S. Radhakrishnan said. He said the company is likely to take a decision on raising prices this month, but did not specify the quantum of rise. Separately, a senior IndianOil official said the company is also looking at raising prices of premium quality of petrol and diesel by "rational levels, which can be absorbed by customers". IndianOil spokesperson said, "We are open to it. When and by how much, no call has been made as of today." Hindustan Petroleum officials were not available for comment.