With crude oil prices reasonably recovering from where they stood just a few weeks ago, oil marketing companies have made sure the stick to profitability and marketing margins of these firms would get normalised. Petrol and diesel prices shot up by 54 paise per litre and 58 paise per litre on Tuesday morning. Along with the retail price hike, the unlocking that India is now starting to witness will also help OMCs better their volumes and valuations.
State-run oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum were at the receiving end of high gross marketing margins of Rs 17-19 per litre when crude oil price tanked.
