Three public sector oil marketing companies rose by 0.71% to 2.03% at 10:15 IST on BSE after announcing a reduction in petrol and diesel prices.
PSU OMCs announced revision in fuel prices after trading hours yesterday, 30 June 2015.
Meanwhile, the S&P BSE Sensex was up 151.19 points or 0.54% at 27,931.48.
Among PSU OMCs, HPCL (up 0.71%), BPCL (up 0.97%) and Indian Oil Corporation (up 2.03%) edged higher.
Indian Oil Corporation (IOCL) reduced retail selling price of petrol by Rs 0.31 per litre at Delhi (including state levies) with corresponding price revision in other states. With this change, the price of Petrol in Delhi will become Rs 66.62 per litre. The price reduction is effective from midnight of 30 June 2015/1 July 2015. The company also announced reduction in retail selling price of diesel by Rs 0.71 per litre at Delhi (including state levies) with corresponding price revision in other states. With this change, the price of diesel in Delhi will become Rs 50.22 per litre.
Since last price change, there has been a decrease in international prices of both petrol & diesel. The rupee-dollar exchange rate has appreciated during this period. The combined impact of both these factors warrants a downward revision in prices, the impact of which is being passed on to the consumers with this price decrease, IOCL said in a statement.
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PSU OMCs review fuel prices during the middle of the month and on the last day of the month based on the average imported oil price in the preceding fortnight.
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