Indian oil marketing companies gain as government raises fuel prices

Hindustan Petroleum

19/05/2026 05:19

** Indian Oil Corp IOC.NS, BPCL BPCL.NS and HPCL HPCL.NS rise after India raised the prices of petrol and diesel by roughly 0.90 rupees a litre

** This is the second price hike in a week by the government as it seeks to recoup losses due to Iran war driven crude price surge

** IOC and HPCL gain ~2% each while BPCL climbs 2.2%

** IOC gains also boosted by strong Q4 earnings where profit surged ~57% Y/Y

** Gains drive oil and gas index .NIFOILGAS 0.4% higher

** YTD, IOC down 19.4%, BPCL declines 25.3% while HPCL sheds 26.7%; oil and gas index down 8.4%

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))