India's oil marketing companies fall; India hikes petrol, diesel prices (updated)

Hindustan Petroleum

15/05/2026 07:06

Updates

** Shares of oil marketing companies down between 2.5% and 3.6%

** BPCL BPCL.NS leads the pack's losses; down ~3.6% at 284.4 rupees

** HPCL HPCL.NS falls ~3.4% at 364.6 rupees, Indian Oil Corp IOC.NS declines ~2.5% to 136.8 rupees

** India raises petrol and diesel prices for the first time in four years by 3 rupees per litre, according to retailers in Delhi

** The modest hikes of 3 rupees/litre offer limited relief, with losses persisting amid high crude prices, ICRA's Prashant Vasisht says

** "The oil marketing companies would need to relook at the retail prices in case elevated crude oil prices persist," he added

** Considering past 10-year average crack spreads, OMCs incur a loss of about 5 billion rupees a day on the sale of auto fuels and domestic LPG, even after factoring the fuel price hike, says ICRA

** Stocks muted as Brent Crude futures LCOc1 continue to rise; last up 2.1% at $108 a barrel

** Nifty Oil and Gas .NIFOILGAS index down ~1.4%

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))