Duty Hike: State-run OMCs optimistic of increased fuel supply

State-run oil marketing firms expect fuel supply to normalise in the country and long queues at their outlets to reduce, after the government on Friday slapped export duty on petrol, diesel, and aviation turbine fuel which may act as a deterrent for private refiners to export.

To regulate prices and maintain the stock of petroleum products in the domestic market, the government increased the export duty. The move comes after over a week of the government bringing all petrol pumps under universal service obligation to ensure fuel availability.