Indian Oil Corporation Ltd. (IOC), the country’s second-largest petroleum coke producer, has steeply increased prices from its various refineries for the second consecutive month in September.
IOC has revised pet coke price at Koyali refinery for road supplies to INR 8,640/t over its last month’s price of INR 8,000/t — an increase of INR 640/t.
Price for rake loading has been also increased by INR 640/t to INR 8,440/t, from INR 7,800/t in the last month.
Pet coke price at Panipat refinery for general states has been revised to INR 9,250/t over its last month’s price of INR 8,420/t — an increase of INR 830/t.
Pet coke price for Punjab, Haryana, Jammu and Kashmir and Chandigarh has been revised to INR 9,450/t from INR 8,520/t — an increase of INR 930/t over last month’s price.
Pet coke price at Paradip refinery for road supplies has been revised to INR 8,540/t over its last month’s price of INR 7,910/t — an increase of INR 630/t.
Price for rake supply has been revised to INR 8,420/t from INR 7,610/t — an increase of INR 810/t over last month’s price.
Pet coke price ex-Haldia refinery for road supplies has been revised to INR 8,710/t over its last month’s price of INR 6,340/t — a sharp increase of INR 2,370/t.
The price applicable for rake supplies has been also increased by INR 2,370/t to INR 8,410/t from INR 6,040/t in the last month.
Price Commentaries
Reliance Industries Ltd. (RIL), India’s largest pet coke producer, has increased its price by INR 626/t ex-Jamnagar refinery in Gujarat in the current month.
RIL’s current price increase follows two consecutive hikes of INR 1,050/t and INR 518/t in the previous months of August and July. Earlier in May this year, however, RIL had substantially decreased its price by INR 1,223/t followed by a moderate reduction of INR 195/t in June.
The pricing trend was followed by the country’s third largest producer, Nayara Energy (erstwhile Essar Oil). However, IndianOil responded differently and has increased prices at its Koyali, Panipat, Paradip and Haldia refineries by varying amounts.
Notably, there had not been any price alteration at Haldia refinery since April this year — possibly because the newly commissioned delayed coker unit (DCU) at Haldia refinery was undergoing stabilization and product availability was restricted.
At Panipat, the price difference of INR 200/t has been maintained for northern states as compared to the rest of India. While the price for rake supplies is lower than road supplies at Koyali by INR 200/t, it is lower by INR 300/t at Paradip and Haldia refineries.
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