City
Epaper

Oil companies making Rs 10 a litre profit on petrol

By Lokmat English Desk | Updated: January 7, 2023 14:54 IST

Open in App
1 / 6
Rising prices of petrol and diesel have also affected the common man's pocket. On the other hand RBI has been continuously increasing interest rates to bring inflation under control. Meanwhile, Indian Oil, Bharat Petroleum and Hindustan Petroleum companies per liter on petrol.
2 / 6
According to a PTI report, where fuel companies are getting Rs 10 per liter profit from petrol. At the same time, the loss on diesel has also come down to Rs 6.5 per litre. Companies cut their retail prices to cover losses on diesel and earlier losses.
3 / 6
Petrol and diesel prices in the country have remained stable since April 6, 2022. State-owned fuel companies Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have cut crude oil prices in the last 15 months.
4 / 6
State fuel companies suffered record losses of Rs 17.4 per liter on petrol and Rs 27.7 per liter on diesel in the week ended June 24, 2022, ICICI Securities said in a report.
5 / 6
While in the third quarter (October-December 2022), the companies made a profit of Rs 10 per liter on the sale of petrol. The loss on diesel has reduced to Rs 6.5 per litre.
6 / 6
All the three companies have not changed the prices of petrol and diesel since April 2022. The price of crude oil was $102.97 per barrel in April, which rose to $116.01 per barrel in June. Now this price has dropped to $78.09 this month.
Tags: Bharat PetroleumHindustan Petroleum
Open in App

Related Stories

BusinessBPCL launches 6 Highway Corridors for Fast-Charging of e-vehicles

InternationalPetrol export by OMCs rose 142% between 2020-21 and 2021-22

PoliticsCabinet approves one time grant of Rs 22,000 cr to oil marketing companies

BusinessGovernment's Ethanol Blending Programme to be a game changer for India

NationalLPG Gas connection becomes expensive, check out new rates

National Realted Stories

NationalAssam gears up for Panchayat polls, CM Sarma leads campaign

NationalVishwa Mitra India's readiness in times of crisis 'hallmark' of our identity, says PM Modi

NationalCong calling terrorists gunmen for appeasement politics: BJP's Pradeep Bhandari

NationalPM Modi pays tribute to Kasturirangan, lauds his contributions to science, education

NationalMarket Outlook: Q4 results, auto sales and global cues key triggers for next week