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Oil retailers to see no losses on diesel after Sept price hike - Goldman

Source : REUTERS
Last Updated: Tue, Aug 19, 2014 13:54 hrs
A worker fills a car with diesel at a fuel station in Jammu

Oil retailers will suffer no losses on diesel after a hike in prices in September, says Goldman Sachs.

That would mean diesel prices charged by retailers could be market-priced by September, the investment bank adds.

India has been gradually raising diesel prices every month since January 2013.

Oil retailers gain on Tuesday after Brent crude hits new 14-month low.

Hindustan Petroleum Corp gains 1.9 percent, Bharat Petroleum Corp rises 1.4 percent while Indian Oil Corp advances 1.3 percent.

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