Oil stocks tank up to 8% after cut in petrol, diesel prices; HPCL, BPCL, IOCL, GAIL, ONGC lead fall
OMCs have slashed petrol and diesel prices across the country by ₹2 per litre for the first time in two years since April 2022.
oil marketing companies
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India Inc.’S Corporate Scorecard
Companies overcome global headwinds and domestic challenges to ride the growth train.
Crude Pains for OMCs to Persist
Given a weak global macro outlook, reports indicate crude prices will stay sanguine in the $75-85 range for the year
Punjab hikes VAT on petrol, diesel; check latest fuel prices
Despite a steady fall in global crude oil prices, fuel prices have not reduced for retail customers in India since last year
Govt sanctions ₹800 cr for oil PSUs to set up charging stations under FAME II
India's public sector oil companies will set up 7,432 public fast charging stations across the country.
Losses of state-run OMCs to ease amid lower crude oil prices: Moody's
India's windfall tax on exports of locally-produced oil has helped reduce the state-owned refining and marketing companies' marketing losses, says Moody's.
Will falling crude prices, improving marketing margins boost OMC stocks?
The recent fall in international crude and product prices has helped state-owned OMCs to narrow their marketing losses.
Sharp drop in crude oil prices poses upside risks for OMCs: Report
ICICI Securities has downgraded state-owned oil retailer HPCL to “REDUCE” from “ADD”, BPCL to “ADD” (from “BUY”), while it retained “BUY” call on IOCL.
Refining margins, inventory gains to mitigate OMCs' potential losses: Fitch
Fuel retailers kept petrol and diesel prices on hold for 137 days despite crude oil prices increasing by nearly $27 per barrel.
Why petrol, diesel prices need a ₹15 hike
Petrol and diesel prices have been stagnant for the past 120 days, even as crude oil prices continue to rise. Meanwhile, OMCs' margins suffer the consequences.
