Even as the government yesterday announced an increase in the prices of petrol and diesel, the joint-marketing committee of the four public sector oil marketing companies has decided to reduce the prices of naphtha for non-fertiliser use by 1.5 per cent.
The committee, which met in Mumbai recently, decided to bring down naphtha prices in Mumbai from Rs 13,810 a tonne to Rs 13,600 a tonne. Similar revision has been made for other locations also.
However, the prices of fuel oil and low sulphur heavy stock for non-fertiliser use have been increased.
While the ex-storage point price of fuel oil in Mumbai has been moved up by 2.43 per cent from Rs 9,860 a kilolitre to Rs 10,100 a kilolitre, the price of low sulphur heavy stock has been raised by 2.46 per cent to Rs 10,810 a tonne from Rs 10,550 a tonne in Mumbai. The new prices took effect from June 1.