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Prices of automotive lubricants hiked

TURNING DEARER: The soaring prices of automotive lubricants have added to the burden of motorists.   | Photo Credit: — Photo: R. Ragu

N. Ravi Kumar

CHENNAI: The three national oil marketing companies have increased the prices of automotive lubricants such as two-stroke engine oils, adding to the burden of motorists.

The prices of lubricants across the grades marketed by Indian Oil Corporation have gone up by about Rs. 18 a litre since April, including an increase of Rs. 12 from Tuesday, company sources said. The prices were untouched for around 18 months prior to the increase in April.

The reasons for the increase include an increase in the cost of base oil, a key raw material and additives.

Hindustan Petroleum Corporation Ltd, according to M. Kannan, president, Tamilnadu Petroleum Dealers’ Association, is increasing the price of lubes by Rs. 30 a litre. While information regarding the quantum of hike was available on Tuesday, a formal announcement is expected on Wednesday, he said.

BPCL dealers said the price of the widely used 2-T oil had increased by about Rs. 11 a litre since April, including Rs. 4 this month. The prices of a few other grades of engine oil were increased by Rs. 5 a litre last month.