Despite a consistent fall in global crude prices, which went through the roof after the start of the Russia-Ukraine war last year, common consumers will have to wait for a drop in petrol and diesel prices in India. Though margins on petrol and diesel have turned positive for the oil marketing companies following the softening of international oil prices, they would require more time to recover their losses accumulated due to high crude prices last year.
As far as a revision in oil retail prices is concerned, it may happen only after state-owned oil firms recoup losses they incurred last year, PTI reported, quoting officials.
