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VERIFIEDET Markets·negative
The Rs 3 relief that wasn't: Why investors are dumping oil stocks after long-awaited petrol, diesel price hike
AI Summary
- ·Shares of HPCL and BPCL fell up to 3% following the first fuel price hike since 2022.
- ·Analysts estimate OMCs could still lose nearly Rs 500 crore daily at current crude prices.
- ·Markets fear another quarter of heavy financial pressure for state-run fuel retailers due to Brent crude prices above $100 and West Asia tensions.