OMC’s in top gear on petrol price hike

State-run oil marketing companies (OMC's) gathered momentum after the Congress-led UPA government announced Rs 7.50 hike - the steepest till date - in petrol prices. Since the government keeps hiking petrol prices while maintaining stand still stance for the prices of other fuels, the difference between petrol and diesel prices has gone up to Rs 25 per litre. Following the hike, a litre of petrol will now cost Rs 78.16 in Mumbai, Rs 73.14 in Delhi, Rs 77.53 in Kolkata and Rs 77.05 in Chennai. However, there could be more bad news in the offings as the government may announce a slash in subsidies on diesel, kerosene and LPG by Friday.

Bharat Petroleum Corporation is currently trading at Rs 738.85, up by 16.95 points or 2.35% from its previous closing of Rs 721.90 on the BSE. The scrip opened at Rs 753.90 and has touched a high and low of Rs 758.80 and Rs 736.50 respectively. So far 159752 shares were traded on the counter.

Hindustan Petroleum Corporation is currently trading at Rs 313.00, up by 3.70 points or 1.20% from its previous closing of Rs 309.30 on the BSE. The scrip opened at Rs 323.40 and has touched a high and low of Rs 327.00 and Rs 312.60 respectively. So far 275745 shares were traded on the counter.

Indian Oil Corporation is currently trading at Rs 278.20, up by 4.75 points or 1.74% from its previous closing of Rs 273.45 on the BSE. The scrip opened at Rs 281.10 and has touched a high and low of Rs 285.95 and Rs 277.55 respectively. So far 114956 shares were traded on the counter.