From The Economic Times · ET Online · · 50s
OMCs face Rs 530 crore daily losses
ICRA warns oil marketing companies suffer Rs 530 crore daily losses as petrol and diesel margins turn negative.
In brief
ICRA warns oil marketing companies suffer Rs 530 crore daily losses as petrol and diesel margins turn negative. Oil marketing companies face Rs 530 crore daily losses due to negative petrol and diesel margins and LPG under-recoveries. Originally reported by The Economic Times.
Petrol diesel margins negative
Oil marketing companies face negative margins on petrol and diesel.
LPG losses widen
LPG under-recoveries reach rs 300 per cylinder.
Daily losses hit rs 530 crore
Oil marketing companies incur rs 530 crore daily losses.
Crude prices rise
International crude prices surge while domestic fuel prices stay unchanged.
ICRA explains cause
West Asia conflict drives crude price spikes and supply disruptions.
What happens next
OMCs may need short-term loans to cover higher costs.
The essence
Oil marketing companies face Rs 530 crore daily losses due to negative petrol and diesel margins and LPG under-recoveries.
