OMCs’ gross profit on retail fuel sales to rise 60% to Rs 20,000 crore in Q1FY21 on static rates

Though price of the Indian basket of crude has fallen 42% since March 16 to $17.66 per barrel, retail prices of petrol (Rs 69.59/litre in Delhi) and diesel (Rs 62.29/litre) have not moved, allowing OMCs to earn more from selling every litre of these fuels.

from The Financial Express https://ift.tt/2Y8QArK