Oil marketing companies lost ₹10-12 a litre on sale of petrol, diesel this quarter
New Delhi: Oil marketing companies (OMCs) have lost an estimated ₹10-12 on the sale of a litre of petrol and diesel in the current quarter, which can be only partly offset by increased refining margins, brokerage ICICI Securities said in a note on Thursday.
“Despite the strength seen in refining, overall earnings for OMCs will continue to remain under pressure, given the steady expansion in marketing losses over the last three months,” the brokerage said.
With international prices expanding sharply over the last 2-3 months and the continuing freeze on domestic retail prices, estimated losses on petrol and diesel have risen to ₹10.5 and ₹12.5 per litre respectively in the current quarter till the week of June 17, as per the brokerage.
