OMCs may be losing Rs 5/L on petrol, Rs 23 on diesel: ICRA
Ratings agency ICRA estimates that Indian oil marketing companies are facing significant under-recoveries on petrol and diesel due to rising global crude prices. Industry experts warn that these losses could escalate if retail fuel prices remain stagnant while international crude costs stay high.
Why it matters
Fuel pricing impacts inflation and the fiscal health of state-owned energy companies in India, affecting the broader national economy.
NEW DELHI: A surge in global crude prices due to renewed hostilities has started hitting the oil marketing companies, with state-owned fuel retailers estimated to be losing around Rs 5 per litre on petrol and Rs 23 on diesel, ratings agency ICRA said Wednesday.Oil retailers refused to comment on the exact amount of under-recoveries.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in