State-owned Indian Oil Corporation (IOC) has cut the retail prices of diesel by 2.6% and increased those of petrol by about 1% from midnight of June 16, 2015, reflecting changes in global prices of the two fuels since the last revision. The company has raised petrol price by 64 paise per litre and cut diesel price by Rs. 1.35 a litre.
The Prices of Petrol and Diesel were last revised with the effect from May 16, 2015. Since last price change, there has been an increase in international prices of Petrol while international prices of Diesel have shown a downward trend. INR-USD exchange rate has depreciated during this period. Combined impact of these factors warrant an upward revision in prices of Petrol and a downward revision in prices of Diesel, the impact of which is being passed on to the consumers with this price change.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1365.10 |
| Indian Oil Corp. | 145.85 |
| BPCL | 312.05 |
| HPCL | 370.95 |
| MRPL | 183.20 |
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