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

Tuesday 28 April 2020
OMCs’ gross profit on retail fuel sales to rise 60% to Rs 20,000 crore in Q1FY21 on static rates | Easy Man
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.
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OMCs’,gross,profit,on,retail,fuel,sales,to,rise,60%,Rs,20,000,crore,in,Q1FY21,static,rates,Tuesday,28,April,2020,Easy,Man,Though,price,of,the,Indian,basket,crude,has,fallen,42%,since,March,16,$17.66,per,barrel,prices,petrol,(Rs,69.59/litre,Delhi),and,diesel,62.29/litre),have,not,moved,allowing,OMCs,earn,more,from,selling,every,litre,these,fuels.,