Jun 28, 2012, 08.06 AM IST | Source: Moneycontrol.com

Petrol price likely to be cut by Rs 4/lit on July 1: Report

After the much hue and cry, petrol price is likely to reduced by upto Rs 4 per litre from July says a media report. The continuous fall in crude price touching almost near eight-month lows is probably the trigger.

After much hue and cry, petrol price is likely to be reduced by upto Rs 4 per litre from July says a media report. The continuous fall in crude price touching almost near eight-month lows is probably the trigger.

However, in an interview to CNBC-TV18 , Sudhir Vasudeva, Chairman, ONGC had said that under recovery won't fall even though crude oil price have decreased.

He said, "Depreciation of rupee is 20% which wipes out all the gain of oil price decrease. As far as the subsidy is concerned we have been instructed only to pay that provisionally USD 56 a barrel."

The government faced severe criticism after it raised petrol price the by Rs 7.54 a litre on May 23.

 

ONGC stock price

On April 17, 2014, at 13:30 hrs Oil and Natural Gas Corporation was quoting at Rs 318.00, up Rs 1.10, or 0.35 percent. The 52-week high of the share was Rs 353.00 and the 52-week low was Rs 234.40.


The company's trailing 12-month (TTM) EPS was at Rs 24.07 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 13.21. The latest book value of the company is Rs 145.47 per share. At current value, the price-to-book value of the company is 2.19.

READ MORE ON  petrol, oil, ONGC
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