PSU oil cos hike petrol and diesel prices

India Infoline News Service | Mumbai | June 01, 2017 11:19 IST

Petrol and Diesel prices are hiked by Rs 1.23 per litre and 89 paise per litre respectively by the state-owned oil companies. These hikes exclude state levies and so the actual price increases could vary.

Petrol Price
Petrol and Diesel prices are hiked by Rs 1.23 per litre and 89 paise per litre respectively by the state-owned oil companies. These hikes exclude state levies and so the actual price increases could vary.
 
The hikes in prices have come after the price cuts of Rs 2.16 per litre in petrol prices and Rs 2.1 per litre in diesel prices as on May 16, 2017.
 
"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," IOC reported in a statement to leading business news agency.
 
The government-owned oil companies have been trading in red zone in the morning hours on Thursday. IOC is the top loser in BSE Oil and Gas index trading lower by 2.18% at Rs 422 per share. BPCL, OIL and ONGC are also losing their sheen in the morning hours.

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