Three public sector oil marketing companies rose 1.23% to 2.29% at 11:05 IST on BSE after these companies have revised the prices of petrol and diesel with effect from 16 June 2015.
BPCL (up 1.74% at Rs 848.40), HPCL (up 2.29% at Rs 708.75) and Indian Oil Corporation (IOCL) (up 1.23% at Rs 357.40) edged higher.
Meanwhile, the S&P BSE Sensex was down 88.35 points or 0.33% at 26,498.20.
IOCL yesterday, 15 June 2015, announced hike in retail selling price of petrol by 64 paise per litre at Delhi (including state levies) with corresponding price revision in other states with effect from 16 June 2015. With this change, the price of petrol in Delhi stands at Rs 66.93 per litre. The price of diesel was reduced by Rs 1.35 per litre at Delhi (including state levies) with corresponding price revision in other states. With this change, the price of diesel in Delhi stands at Rs 50.93 per litre.
Since last price change, there has been an increase in international prices of petrol while international prices of diesel have shown a downward trend, IOCL said. Rupee-Dollar exchange rate has depreciated during this period. Combined impact of these factors warrant an upward revision in prices of petrol and a downward revision in prices of diesel, the impact of which is being passed on to the consumers with this price change, IOCL said. The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said in a statement.
Public sector oil marketing companies (PSU OMCs) undertake review of 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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