Shares of state-run oil retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum jumped after the country’s largest state-run oil retailer Indian Oil hiked prices of petrol and diesel after a pause of 18 days on Tuesday.
Indian Oil shares rose as much 1.63 per cent, Bharat Petroleum climbed 2 per cent and Hindustan Petroleum rose 3.2 per cent.
Petrol and diesel prices have been hiked up to 18 paise across the metros on Tuesday, May 4, 2021 after a pause of 18 days. In Delhi, petrol prices have been increased by 15 paise from ₹ 90.40 per litre to ₹ 90.55 per litre and diesel prices have been raised by 18 paise from ₹ 80.73 per litre to ₹ 80.91 per litre, according to the Indian Oil Corporation.
In Mumbai, the revised prices of petrol and diesel are ₹ 96.95 per litre and ₹ 87.98 per litre respectively, according to the state-run oil refiner. Presently, fuel prices are the highest in Mumbai among the four metro cities. Petrol and diesel prices vary across states in India due to the value-added tax.