Shares of Indian Oil Corporation gained 5.53 per cent to close at Rs 350.40 on the BSE.
Shares of Hindustan Petroleum Corporation Ltd surged 5.53 per cent to Rs 654.15 and Bharat Petroleum Corporation Ltd rose by 4.35 per cent to Rs 777.85.
On Saturday, petrol and diesel price was hiked across the country for the second time in February. On Sunday, jet fuel price was hiked by a steep 8.2 per cent while the rates of non-subsidised LPG was increased by Rs 5 per cylinder on firming international oil rates.