BPCL (down 1.83% to Rs 561), HPCL (down 2.87% to Rs 286.20) and Indian Oil Corporation (IOC) (down 6.22% at 270.55), edged lower.
Meanwhile, the BSE Sensex was down 58.91 points or 0.34% at 17,134.64
BPCL had outperformed the market over the past one month till 31 January 2012, rising 19.26% compared with Sensex's 11.25% return. The scrip, however, underperformed the market over the past one quarter, falling 8.31% as against Sensex's 2.89% fall.
HPCL had outperformed the market over the past one month till 31 January 2012, rising 17.06% compared with Sensex's 11.25% return. The scrip, however, underperformed the market over the past one quarter, falling 11.60% as against Sensex's 2.89% fall.
Indian Oil Corporation had outperformed the market over the past one month till 31 January 2012, rising 13.69% compared with Sensex's 11.25% return. The scrip had also outperformed the market over the past one quarter, falling 0.88% as against Sensex's 2.89% fall.
IOC cut jet fuel or aviation turbine fuel (ATF) prices to Rs 63,864 from 65,920.87 per kilolitre in Mumbai, while it will cost Rs 62,908 per kilolitre in New Delhi. Other state-run oil marketing companies tend to follow IOC in determining jet fuel prices.
State-run oil marketing firms (PSU OMCs) - BPCL, HPCL and Indian Oil Corporation revise jet fuel prices on the 1st and 16th of every month, based on the average international price in the preceding fortnight.