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Oil cos slash product prices

Our Bureau

MUMBAI, April 16

PUBLIC sector oil companies have slashed the prices of naphtha, furnace oil and low sulphur heavy stock (LSHS) in line with falling international prices. The new prices are effective from April 13, 2002.

"Naphtha prices have fallen internationally over the last few days. The price reduction is in line with this trend," said a senior oil industry analyst.

Although crude prices shot up from last month-end to earlier this month, they have stabilised at around the $24-per bbl levels. As a result, product prices have also come down, the analyst said.

International naphtha prices continued to rise last month, peaking at $236 per tonne on April 4. Internationally, naphtha prices are at $221 per tonne.

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