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Shares of state-run oil refiners rise on increase in petrol prices.
Bharat Petroleum Corp gained as much as 2.8 per cent, Hindustan Petroleum Corp rose as much as 2.4 per cent, and Indian Oil Corp climbed as much as 1.8 per cent.
Petrol prices were raised by Re 0.03/litre, while diesel prices were increased by Re 0.92/litre, effective May 1, IOC had said in a statement on Monday.
Indian Oil had on Monday revised the price of diesel upwards by Rs. 0.01 per litre in 3 of the 5 markets where a daily fuel price revision is being implemented. According to an official statement, the price of diesel has been hiked in Jamshedpur, Udaipur and Visakhapatnam.
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