Published On: Wed, Sep 5th, 2012

Oil firms rise, diesel price hike hopes rekindle

Oil firms rise, diesel price hike hopes rekindle

Oil firms rise, diesel price hike hopes rekindle

Shares in oil marketing companies rose on media reports of a potential hike in diesel and other fuel prices after the monsoon session of Indian parliament ends on Friday, dealers say.

Analysts say state-run oil marketing companies sell diesel at a loss of Rs 17 a litre, kerosene at Rs 32 a litre and domestic LPG at Rs 347 per cylinder. Hindustan Petroleum Corp rose 0.9%, Bharat Petroleum Corp rose 1.3%, while Indian Oil Corp rose 1%.