Oil marketing companies seek LPG, petrol, diesel price hike as Iran war deepens losses
Oil marketing companies in India are seeking price hikes for LPG, petrol, and diesel due to rising losses amid escalating geopolitical tensions involving Iran. The companies argue that current domestic fuel prices do not reflect the increased import costs caused by supply disruptions. Without adjustments, they warn of sustained financial strain on their operations.
- ▪Oil marketing companies are requesting higher prices for LPG, petrol, and diesel.
- ▪The price hike request is linked to financial losses worsened by the Iran conflict.
- ▪Domestic fuel prices have remained stable while global crude oil prices have risen.
- ▪The companies say they are absorbing higher import costs due to supply chain disruptions.
- ▪Sustained losses could impact the financial health of fuel retailers in India.
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