Fuel retail has again become profitable for oil marketing companies as domestic prices remain unchanged as against softening international rates.
Hindustan Petroleum, Bharat Petroleum, and Indian Oil have been estimated to have made an average margin of Rs 1.2 per litre on the retail sale of petrol and diesel in the present quarter thus far, as compared to a loss of Rs 3 per litre incurred in the October-December quarter, as well as a loss of Rs 8.9 per litre in the April-December stretch in 2022, The Economic Times reported.
Companies are expected to have made a loss of Rs 1.2 per litre on the sale of diesel thus far this quarter. The amount of diesel sold in the nation is nearly two-and-a-half times that of petrol.
