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

Written by Reuters | Mumbai | Updated: Dec 26 2013, 19:02pm hrs
Diesel price hikeOil ministry is reportedly considering diesel price hike.
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.