Pet Coke: IndianOil raise prices across various refineries

Indian Oil Corporation Ltd. (IOC), the country’s second-largest petroleum coke producer, has increased prices from its various refineries for the third consecutive month in October.

• IOC has revised pet coke price at Koyali refinery for road supplies to INR 9,010/t over its last month’s price of INR 8,640/t — an increase of INR 370/t.

• Price for rake loading has been also increased by INR 370/t to INR 8,810/t, from INR 8,440/t in the last month.

• Pet coke price at Panipat refinery for general states has been revised to INR 9,630/t over its last month’s price of INR 9,250/t — an increase of INR 380/t.

• Pet coke price for Punjab, Haryana, Jammu and Kashmir and Chandigarh has been revised to INR 9,830/t from INR 9,450/t — an increase of INR 380/t over last month’s price.

• Pet coke price at Paradip refinery for road supplies has been revised to INR 8,920/t over its last month’s price of INR 8,540/t — an increase of INR 380/t.

• Price for rake supply has been revised to INR 8,620/t from INR 8,420/t — an increase of INR 200/t over last month’s price.

• Pet coke price ex-Haldia refinery for road supplies has been revised to INR 9,090/t over its last month’s price of INR 8,710/t — an increase of INR 380/t.

• The price applicable for rake supplies has been also increased by INR 380/t to INR 8,790/t from INR 8,410/t in the last month.

Price Commentaries

Reliance Industries Ltd. (RIL), India’s largest pet coke producer, has increased its price by INR 702/t ex-Jamnagar refinery in Gujarat in the current month.

RIL’s current price increase follows three consecutive hikes of INR 626/t, INR 1,050/t and INR 518/t in the previous months of September, August and July respectively. 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), as well as IndianOil which has increased prices at its Koyali, Panipat, Paradip and Haldia refineries by varying amounts within the range of INR 370-380/t.

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.