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Rs 3 petrol diesel hike fails to calm markets as HPCL and BPCL shares fall again on losses
Economy
Published on 15 May 2026
Even a Rs 3 litre rise still leaves OMCs losing Rs 500 crore daily
India’s first petrol and diesel retail price increase since 2022 has not reassured investors. HPCL and BPCL shares fell up to 3% after a up to Rs 3 per litre adjustment that analysts say barely covers rising costs. With Brent crude above $100 and West Asia tensions persisting, ICRA estimates oil marketing companies could still lose about Rs 500 crore daily even after the hike, implying enormous quarterly under-recoveries and renewed pressure on government policy.
- HPCL and BPCL shares dropped up to 3% after a retail fuel hike
- Petrol in Delhi rose to Rs 97.77 per litre and diesel to Rs 90.67
- ICRA estimates OMC losses around Rs 500 crore daily at $105-110 crude
- Emkay expects under-recoveries of Rs 17-18 per litre even after excise cuts
- Projected quarterly OMC losses could total Rs 57,000-58,000 crore
- Analysts say a bigger Rs 10 per litre hike may only cover about 50% of gaps
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times