Results for "fuel price"

The market analysts believe that the second price hike will improve daily profitability by nearly Rs 38 crore.

A S Sahney, Chairman and Managing Director of Indian Oil Corporation Limited said the OMCs are currently processing crude purchased earlier at higher prices and have not yet received fresh cargoes procured at the recent lower rates.

The Ministry of Petroleum and & Natural Gas said that It has been observed that Private Oil Marketing Companies are experiencing a decline of approximately 38% in HSD offtake during the current month, across both retail outlets and bulk customers due to higher rates fixed by them.

Reacting to the latest increase in petrol and diesel prices, the Virudhunagar MP said the government’s argument that OMCs were suffering losses had been “demolished” by the companies’ financial performance in recent years.

For diesel, Thiruvananthapuram emerged as the most expansive with Rs 99.63 per litre while Hyderabad is at the second place at 98.96 per litre.