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Petrol Price Hiked by Rs.7.50 per liter, Diesel no change

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Today the Oil marketing companies such as HPCL, BPCL and IOC has hiked petrol price by Rs.6.28 per liter, which will become effective from midnight 24-05-2012 i.e from Thursday, when included sales tax price hike stands at Rs.7.50 per liter. We were already highlighting this in our previous articles, as Indian rupee has been continuously falling against the US dollar, hence making the import cost of all goods higher including crude oil (which is mostly imported). However, the price of diesel price were kept unchanged, because it has direct impact on the inflation.

Tomorrow markets are expected to be in pressure due to this hike, however traders can buy stocks like HPCL and BPCL tomorrow.

 

New Price of Petrol in metro cities:

 

  1. New Delhi: 73.14 per Liter
  2. Mumbai: 78.16 per Liter
  3. Kolkata: 77.53 per Liter
  4. Chennai: 77.05 per Liter

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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