India’s March v-light grade base oil import price falls

India’s price for imported supplies of very-light grade base oils continued to edge down in March to its lowest since the second quarter of last year.

The average price of imported supplies of Group II and Group II+ N70 fell to less than $900/t cfr in March, provisional customs data showed.

The price fell from an average of around $930/t cfr in February and more than $1,000/t cfr in the fourth quarter of last year.

Prices for supplies of South Korean origin were above the average March price level. Prices for supplies from the Mideast Gulf were mostly below the average level.