Petrol and possibly diesel prices are likely to be hiked by Rs 2-4 per litre once Assembly Elections in five states, including Uttar Pradesh, are completed this week. State-owned oil companies are losing about Rs 4 per litre on petrol, industry officials said.
Oil firms had last revised petrol prices on December 1 after which rates have not been changed because of Assembly Elections.
The industry, they said, has lost about Rs 900 crore since the last revision which was done at international gasoline price (the benchmark for deciding domestic retail rates) was USD 109 per barrel. Gasoline rates have since risen to over USD 125 a barrel.
"In all probability, petrol price will be increased after assembly polls," an official said.
IOC stock price
On November 27, 2015, Indian Oil Corporation closed at Rs 419.40, down Rs 1.7, or 0.4 percent. The 52-week high of the share was Rs 465.40 and the 52-week low was Rs 307.00.
The company's trailing 12-month (TTM) EPS was at Rs 40.18 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 10.44. The latest book value of the company is Rs 279.95 per share. At current value, the price-to-book value of the company is 1.50.
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