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Decontrolled petroproduct prices hiked

Our Bureau

MUMBAI, July 3

THE public sector refineries have announced an increase in the prices of decontrolled petroleum products for July.

The prices of naphtha went up to Rs. 13,080 per tonne, an increase of Rs. 440 per tonne. Furnace oil prices were Rs. 10,010 per tonne, up by Rs. 660 per tonne and low sulphur heavy stock increased by Rs. 700 to cost Rs. 10,730 per tonne. The prices of li ght diesel oil were reduced by Rs. 200 to Rs. 10,300 per tonne.

``These prices are lower than international prices,'' a senior official said. The rise in prices were in tune with the increase in international crude prices which have gone beyond $30 per barrel, he said.

According to market analysts, the prices of these decontrolled products are benchmarked on international prices after adding landing costs. ``The rise in these prices is inevitable considering international crude prices have not weakened contrary to expe ctations,'' said a market analyst.

The rise in prices of feedstock, will definitely affect the prices of the petrochemicals chain. However, the integrated producers of petrochemical products may not be affected due to the price increase, he added.