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Stocks of oil marketing companies such as Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are likely to see buying interest this week, as diesel price has been hiked by 45 paise a litre from Saturday. This is the third increase since January. According to IOC, even after the hike, oil firms are losing Rs 8.19 a litre. Besides, the oil firms are losing Rs 33.43 a litre on sale of kerosene through the PDS system and Rs 439 on every 14.2-kg LPG cylinder sold for domestic consumption, it added. The Government had, in January, authorised State-owned oil firms to increase diesel prices by small doses of up to 50 paise a litre every month till such time that their losses on the fuel sale are completely wiped out.
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