Asia Bizz: Fuel prices have been hiked once again in India, and this time it is BPCL who have increased the rates all over the country. Bharat Petroleum, a prominent fuel supplier of India, has raised the Petrol rates in Delhi by Rs.2.95. Along with BPCL, Indian Oil Corporation and Hindustan Petroleum too are on the brink of finalizing the increased rates of Petrol.
With such an increase in fuel prices, commodity rates in India will be shooting up consistently. HPCL and IOC will be releasing their new rates for fuel, in the coming few days. BPCL is on a profit march and it’s share rates are rising strongly, as the prices touched Rs.710 which is up by Rs.35.95 or a steady 5% gain.
HPCL on the other hand, has witnessed credible profit in its balance sheet, as share prices have risen Rs. 423.10 a strong push by Rs. 21.35 or by 5.31%. Oil companies around India are profiting strongly, but one cannot understand the need for a price hike, it may have its roots on global fuel price fluctuation.
Source: EconomicTimes
