BPCL, HPCL and IOC Shares Fall Up to 2% Despite Fuel Price Hike Amid US-Iran War
- 15th May 2026
- 11:00 AM
- 3 min read
Summary
Shares of Bharat Petroleum, Hindustan Petroleum and Indian Oil fell up to 2% on Friday, 15 May 2026, even after oil marketing companies raised petrol and diesel prices by over ₹3 per litre across major cities. The hike, the first fuel price revision in more than four years, fell short of expectations as global crude prices stayed near $107 per barrel amid the US-Iran conflict and supply concerns around the Strait of Hormuz.Mumbai | 15 May 2026
Shares of state-run oil marketing companies declined in early trade on Friday, 15 May 2026, despite a ₹3 per litre hike in petrol and diesel prices across major cities. The revision marked the first fuel price increase in more than four years. Investor sentiment stayed subdued as the hike fell short of expectations amid persistently high global crude oil prices.
How Did OMC Stocks React on 15 May 2026?
Bharat Petroleum Corporation Limited fell 2.02% to ₹289.05 in morning trade. Hindustan Petroleum Corporation Limited declined 2.17% to ₹369.35. Indian Oil Corporation Limited slipped 1.65% to ₹137.94.
The Nifty Oil & Gas index was down 1.2% at 11,318 levels around 09:30 AM, even as the benchmark Nifty50 traded 0.41% higher at 23,787.35.
| Stock | Price (₹) | Change |
| BPCL | 289.05 | -2.02% |
| HPCL | 369.35 | -2.17% |
| IOCL | 137.94 | -1.65% |
What Are the New Fuel Prices Across Major Cities?
Oil marketing companies raised petrol and diesel prices by over ₹3 per litre across major cities on 15 May 2026.
- Delhi: Petrol at ₹97.77, diesel at ₹90.67 per litre
- Kolkata: Petrol at ₹108.74 (from ₹105.45), diesel at ₹95.13 per litre
- Chennai: Petrol at ₹103.67 (from ₹100.80), diesel at ₹95.25 per litre
Why Are OMC Stocks Falling Despite the Price Hike?
Public sector OMCs, including Indian Oil, Bharat Petroleum and Hindustan Petroleum, have been incurring losses of about ₹20 per litre on petrol and nearly ₹100 per litre on diesel. The losses stem from elevated global crude prices and unchanged domestic retail rates.
Speaking at the CII Annual Summit on 12 May 2026, Union Petroleum Minister Hardeep Singh Puri said Indian oil companies “are currently losing nearly Rs 1,000 crore every day,” adding that “total under-recoveries could touch Rs 1,98,000 crore.”
India imports nearly 85% of its crude oil requirement, leaving the country highly exposed to global energy disruptions.
How Are Global Crude Prices Driving the Pressure?
Crude prices have surged sharply in recent months on escalating tensions in West Asia and supply concerns around the Strait of Hormuz, a critical global oil transit route.
Global crude prices had surged above $120 per barrel amid disruption and closure risks in the Strait of Hormuz following the US-Israeli strikes on Iran, before easing to the $100 to $105 range.
Brent crude was up 1.3% at $107 per barrel. US West Texas Intermediate (WTI) crude rose 1.34% to $102.52.
Outlook
The first fuel price hike in over four years signals the building pressure on state-run retailers from sustained high crude prices. With India importing 85% of its crude requirement, the Strait of Hormuz disruption and the ongoing US-Iran conflict remain central to the trajectory of domestic fuel prices and OMC margins.
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