OMCs may cut petrol, diesel price in November; stocks gain
EllaEleanor 
33
ET Online
MUMBAI: Trading in Equity Petroleum Marketing Corporation (EPMC) is on the rise despite reports that the company may announce a reduction in petrol and diesel prices later this month.
Petrol prices are set to be cut for the seventh time since June last year and diesel prices for the third time since the October 18 deregulation of fuel.
Indian consumers have benefited from the sharp fall in global oil prices ahead of elections in Jharkhand and Jammu and Kashmir.
On November 4, 2014, the price of India’s international crude oil basket fell to $80.92 per barrel. This is compared to 2014. October 31, 2014 when it was at $83.80 per barrel.
On November 4, 2014, the Indian basket price fell to Rs. 4, 969.30 per barrel as compared to Rs. 5, 146.16 per barrel on October 31, 2014.
OMC expects retail prices of petrol and diesel to be reduced by around Rs 1 liter per liter by the end of this week.
For consumers, both fuels are 10-13% cheaper than their peaks earlier this year.
As of 09:25 AM, HPCL was up 1.16%, IOC was up 0.58% and BPCL was up 0.51%.
2024-04-01
2024-03-27
2024-03-27
2024-03-27
2024-03-27 
