Indian Oil, Hindustan Petroleum, Bharat Petroleum shares up on diesel price hike hopes

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Oil ministry is reportedly considering diesel price hike. Oil ministry is reportedly considering diesel price hike.
SummaryOil ministry is reportedly considering diesel price hike along with proposal for new subsidy sharing mechanism.

Shares of state-run oil marketing companies gain after a media report said the petroleum ministry was planning to propose a hike of 5 rupees in diesel prices.

The ministry is considering the diesel price hike along with a proposal for a new subsidy sharing mechanism, a business daily reported on Thursday, citing unnamed officials.

Shares of Indian Oil Corp, Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd are trading 2-3 per cent higher.

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