Shares of state-owned oil marketing companies such as – HPCL, BPCL and Indian Oil are trading higher by 2% each after these companies increased petrol prices by Rs 1.63 per litre on rising oil rates and falling rupee.
With this increase, petrol prices have gone up by a massive Rs 10.80 per litre since June, excluding VAT (value added tax), the PTI report suggests.
Indian Oil said the deteriorating exchange rate had led to losses on diesel widening to Rs 14.50 per litre from Rs 12.12 in the second half of August. The oil firms are also losing Rs 36.83 per litre on kerosene and Rs 470.50 per cylinder on LPG, added report.
With this increase, petrol prices have gone up by a massive Rs 10.80 per litre since June, excluding VAT (value added tax), the PTI report suggests.
Indian Oil said the deteriorating exchange rate had led to losses on diesel widening to Rs 14.50 per litre from Rs 12.12 in the second half of August. The oil firms are also losing Rs 36.83 per litre on kerosene and Rs 470.50 per cylinder on LPG, added report.
