Oct 17, 2013, 06.59 PM IST
Sources in OMCs have confirmed that there is a cushion of almost Re 1 per litre, and that the decision of refraining from passing on the benefit was taken in light of the upcoming assembly elections in five states.
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No petrol price cut for now: OMCs
Sources in OMCs have confirmed that there is a cushion of almost Re 1 per litre, and that the decision of refraining from passing on the benefit was taken in light of the upcoming assembly elections in five states.
Like this story, share it with millions of investors on M3
No petrol price cut for now: OMCs
Sources in OMCs have confirmed that there is a cushion of almost Re 1 per litre, and that the decision of refraining from passing on the benefit was taken in light of the upcoming assembly elections in five states.
Also read: Export parity may impact OMC GRMs by $2-2.50/bbl: Quant
Sources in OMCs have confirmed that there is a cushion of almost Re 1 per litre, and that the decision of refraining from passing on the benefit was taken in light of the upcoming assembly elections in five states. Despite the fuel being de-regulated, owing to political reasons, OMCs may not be allowed to revise petrol prices around that time.
OMCs are also hoping to make up for previous losses incurred on petrol by holding back the price cut. Sources say the three companies have so far lost in excess of Rs 400 crore this fiscal and almost Rs 1500 crore in the previous financial year.
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