Jio-bp raises petrol price by ₹5 per litre, diesel up ₹3
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Jio-bp raised petrol prices by ₹5 and diesel by ₹3 per litre, effective Sunday.
- ✓This is the first time the company raised prices this year.
- ✓A fuel retailer in Punjab said, "With this increase, the cap may become irrelevant as customers will move to other retailers." Many pumps now face changes.
Story at a Glance
- Category
- MARKET
- Reported By
- mint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Summary
While other fuel retailers have raised prices following the closure of the Strait of Hormuz, this is the first time Jio-bp has raised prices this year.
Reliance Industries-backed Jio-bp has raised prices of petrol and diesel by ₹5 and ₹3 per litre, respectively, four people familiar with the development, including fuel pump dealers, said.
Following the increase, effective Sunday, petrol is being sold around ₹108.54 per litre and diesel at ₹99.19 a litre in Punjab, fuel retailers said. In Haryana, Jio-bp pumps are selling petrol at around ₹109.80 per litre and diesel at ₹97.75 a litre.
Jio-bp is the second fuel retailer in the country to raise prices in the last 10 days. Rosneft-backed Nayara Energy raised petrol and diesel prices by ₹5 and ₹3 per litre, respectively, on 3 October, as reported by the Press Trust of India. Reliance and Nayara are also key exporters of petroleum products.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
mint
Read the full, original unfiltered story directly on the publisher's portal.