By Admin 
- Petrol and diesel became costlier by ₹3, but shares of oil companies fell.
- Investors fear crude oil becoming more expensive.
- The increase of ₹3 will not stop the losses of the companies.
- Crude oil prices still high in the global market.
Oil Company Shares Fall: After the increase in the prices of petrol and diesel, not only the common people were affected, but even the oil companies could not get much relief in the stock market. For the first time since 2022, the prices of petrol and diesel have been increased by Rs 3 per litre. However, even after this, there was a decline in the shares of government oil marketing companies (OMCs).
Investors fear that crude oil may become more expensive in future. Due to this reason there has been pressure on the shares and the shares have fallen. Let us know about this.
There was a decline in shares
There was pressure in the shares of HPCL and BPCL since the beginning of the trading day on Friday. Company shares had fallen by about 3 percent. Market experts believe that investors are worried that the increase of Rs 3 cannot handle the company’s losses. Due to which the confidence of investors was shaken and selling of shares started.
The price of crude oil still remains above $100 per barrel in the global markets. Also, there are no signs of peace in the Middle East. In such a situation, pressure on oil companies cannot be ruled out.
Fear of loss persists even after increased prices
ET report says that this increase in the prices of petrol and diesel will not be able to provide much relief to the oil companies. According to the report, if the price of crude oil remains between 105 to 110 dollars per barrel, then the government oil companies may suffer a loss of up to Rs 500 crore every day. This also includes the impact of sale of domestic LPG along with petrol and diesel. Experts believe that this increase is still very less compared to the current deficit.
Concern increased due to cost of crude oil
There has been a huge rise in the prices of crude oil in the global market in the last few months. The main reason for this is believed to be the Iran crisis and increasing tension in West Asia. Talking about the figures, Brent crude was around $69 per barrel in February. Gradually its prices increased to around $120.
Even now its price remains around $107 per barrel. Due to the ongoing tension in the Middle East, there is an atmosphere of uncertainty regarding oil supply. Due to which pressure is being seen in the market.
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