Shares of HPCL IOC BPCL jump after ₹0.90 fuel hike
Oil marketing companies saw their shares pop on Tuesday after state-run oil firms raised gasoline and diesel prices by ₹0.90 per liter, the second hike in a week, ending nearly four years of price freezes.
HPCL shares jumped 3.29%, IOC rose 3.10%, and BPCL climbed 3% on the BSE, as investors reacted to the news.
Delhi petrol ₹98.64 diesel ₹91.58
Gasoline in Delhi now costs ₹98.64 per liter, while diesel is at ₹91.58, both up from the rates set on May 15, 2026 after a previous ₹3 hike on May 15, 2026.
These increases are tied to global crude oil prices shooting up over 50%, thanks to supply disruptions caused by U.S.-Israeli strikes on Iran and Iran's retaliation on February 28, 2026, which affected shipments through the crucial Strait of Hormuz.
State-run retailers finally passed these higher costs onto customers after holding prices steady during key elections.