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VERIFIEDET Stocks·negative
The Rs 3 relief that wasn't: Why investors are dumping oil stocks after long-awaited petrol, diesel price hike
AI Summary
- ·HPCL and BPCL shares declined up to 3% following the first fuel price increase since 2022.
- ·Analysts project Oil Marketing Companies (OMCs) may continue to incur daily losses of approximately Rs 500 crore.
- ·Persistent high Brent crude prices above $100 and West Asia tensions are a concern for state-run fuel retailers.