Petrol, diesel price cut: HPCL, IOC, BPCL shares Bleed; how these stocks performed in past 1 year

With central government reducing the prices of petrol and diesel by Rs 2 per litre each, shares of including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) took a hit on March 15, 2024, Friday.

HPCL Share Price

As the stock markets opened today, HPCL plunged 8.10 per cent to Rs 459.60 on the BSE. The stock of the Public Sector Undertaking has given bumper returns to its shareholders in the last 1 year. HPCL share price increased over 80 per cent in the last six months, while it gave a return of more than 100 per cent since 15th March 2023.

IOC Share Price

The Indian Oil Corporation (IOC) shares were affected badly due to the government’s announcement of reducing the petrol and diesel rates. The IOC stock tanked 6.80 per cent to Rs 158.40. The shareholders of Public Sector oil and gas company under the ownership of the Ministry of Petroleum and Natural Gas, have earned bumper returns in the last 1 year. The stock has jumped over 70 per cent in the last six months and has given over 100 per cent profits since March 15, 2023.

BPCL Share Price

The shares of Bharat Petroleum Corporation Limited (BPCL) were also hit due to the petrol, and diesel price cut. The BPCL share price dropped 6.37 per cent to Rs 570.20 today, as per latest data. The shares the Public Sector Undertaking have risen over 60 per cent in the last six months and over 70 per cent since March 13, 2023.

Meanwhile, Sensex and Nifty declined over 440 points and 140 points respectively, as per the data at 2 pm on March 15, 2024 amid weak global market trends and foreign fund outflows.

Petrol, diesel prices cut by Rs 2 per litre

The petrol and diesel price cut is the first revision in rates in nearly two years. With the reduction in fuel prices, petrol in Delhi will cost Rs 94.72 a litre, while the price of diesel will now come to Rs 87.62 from March 15, 2024.