Shares of oil marketing companies experienced significant gains on Monday, following a recent increase in petrol and diesel prices. Hindustan Petroleum Corporation Ltd (HPCL) saw its stock rise by 5.86%, reaching a peak of ₹412.55 on the Bombay Stock Exchange (BSE). Similarly, Bharat Petroleum Corporation Ltd (BPCL) climbed 4.55%, trading at ₹309, while Indian Oil Corporation (IOC) recorded a 4.15% increase, priced at ₹145.30.
On the same day, petrol and diesel prices were adjusted upward by ₹2.61 to ₹2.71 per litre, marking the fourth price hike in less than two weeks as state-owned fuel retailers began passing on higher international oil prices to consumers. This latest price revision results in cumulative increases of nearly ₹7.5 per litre since the resumption of fuel price adjustments on May 15, after a prolonged freeze. Such hikes have raised concerns regarding inflationary pressures and the rising costs of transportation across the economy.
According to industry sources, petrol prices increased by ₹2.61 per litre, while diesel prices rose by ₹2.71. The three major state-owned fuel retailers—Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd—together dominate approximately 90% of India’s fuel market.
The recent back-to-back price hikes follow a period during which global crude oil prices surged by over 50% since late February, due to US-Israeli military actions in Iran and disruptions in oil shipments through the Strait of Hormuz, a crucial global transit route. Although fuel retailers maintained lower prices in the initial months of the conflict despite rising input costs—a strategy that the government said aimed to protect consumers from inflation—opposition parties have accused the government of delaying price adjustments until after significant state elections.
Published on May 25, 2026.
