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The Economic Times
The Economic Times
Debaroti Adhikary

Petrol, diesel price hike impact: HPCL, BPCL & IOC shares jump 2% each. What lies ahead for the OMCs?

IOC HPCL BPCL OMC OMCs Petrol Nomura Oil

Shares of oil marketing companies, including HPCL, BPCL, and IOC, gained 2% each on Tuesday after the government announced the second petrol and diesel price hikes in less than a week, increasing prices by around 90 paise per litre.

The latest hike follows the government's increase in fuel prices by up to Rs 3 per litre on Friday. After the fresh hike, the petrol price in Delhi now stands at Rs 98.64 a litre, up from Rs 97.77 per litre in Delhi. Diesel now costs Rs 91.58 a litre against a previous price of Rs 90.67, as per a news report by PTI.

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