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HPCL, BPCL and IOC shares slide up to 3% after petrol, diesel price hike
Oil marketing company shares fell on Friday. Petrol and diesel prices saw a modest increase. This hike aims to ease financial pressure on companies. Global crude oil prices remain high due to West Asia conflicts. Prime Minister Modi urged fuel conservation. Oil Minister Hardeep Singh Puri expressed concern over companies absorbing losses.
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oilprice.com
Modi's Fuel Price Freeze Is Costing State Retailers Billions | OilPrice.com
India’s oil minister warned state fuel retailers are losing up to ?1,000 crore a day selling below market prices and the situation may not be sustainable.
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theprint.in
$28 million in OMC profits could be wiped out—Petroleum Minister Puri; rules out fuel price hike
Speaking at Annual Business Summit organised by CII, Union Minister Hardeep Singh Puri also spoke about supply side disruptions, strategic fuel reserves and the push for piped gas.
