Oil pack prices could go up further: Gajendra Nagpal
Gajendra Nagpal says that the move to hike petrol and diesel prices is currently priced in.
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| ET Now talked to Gajendra Nagpal, CEO, Unicon Financial Solutions, to get his views on the probable petrol and diesel price hike and its impact on the oil pack.
Do you think the meeting today to probably hike petrol and diesel prices has been priced in? And, if that is a positive in your eyes, how much upside could be seen for the oil stocks?
Decisions that are good for oil marketing companies are bad for average consumers. In the current political situation, it becomes very difficult for any government which is trying to push some kind of a fiscal consolidation. It becomes a political kind of a negativism. However, this time, we are seeing a lot of commitment coming from the government side on the recommendation of the Kirit Parikh Committee.
If petrol and diesel prices are hiked, do you think that has been priced in or is there more upside and if so, how much?
For the moment, it seems to be priced in. It all depends on how they roll out the entire recommendations. If this is going to happen in a phased manner, then the rise has already get in the prices, but if something more bold comes from the government, you could see the prices going up further.
Do you think the meeting today to probably hike petrol and diesel prices has been priced in? And, if that is a positive in your eyes, how much upside could be seen for the oil stocks?
Decisions that are good for oil marketing companies are bad for average consumers. In the current political situation, it becomes very difficult for any government which is trying to push some kind of a fiscal consolidation. It becomes a political kind of a negativism. However, this time, we are seeing a lot of commitment coming from the government side on the recommendation of the Kirit Parikh Committee.
If petrol and diesel prices are hiked, do you think that has been priced in or is there more upside and if so, how much?
For the moment, it seems to be priced in. It all depends on how they roll out the entire recommendations. If this is going to happen in a phased manner, then the rise has already get in the prices, but if something more bold comes from the government, you could see the prices going up further.
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