IOC to boost fuel retail prices

Petrol will become costlier by 27 paise (US$0.01) at more than 18,600 retail outlets of Indian Oil Corp. (IOC), making it the first state-run Indian oil company to exercise the pricing freedom announced by the government on June 26. Other public sector fuel retailers Hindustan Petroleum Corp. Ltd. and Bharat Petroleum Corp. Ltd. will follow the market leader by raising petrol prices between 28 and 26 paise (U$0.01 and US$0.01). (September 20, 2010)