- Petrol price is hiked by 75 paise per litre and diesel price is hiked by 50 paise per litre with effect from midnight today following depreciation in rupee.
- While international oil prices have softened, the rupee has depreciated against the US currency to Rs 56.50 per dollar, about 2 Rs lower than the rate at the rate in March.
- Experts are expecting the rupee to hit 60 Rs. So expect more price hike in coming months.
- The thing hear is that desiel price is also hiked,this will reduce under recoveries of companies like BPCL and HPCL.
- We suggest a buy of BPCL with target of 415 Rs
Friday 31 May 2013
Petrol price and desiel price hiked buy 75p and 50p respectively
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