NEW DELHI: Oil marketing companies (OMCs) may report losses in the January-March 2022 quarter for holding petrol and diesel prices despite a rise in cost of crude oil in the international market, says a Fitch report.
According to the report, released on Tuesday, to make up for the loss fuel retailers will have to further hike the prices of petrol and diesel to reach pre-November levels. “Retail fuel prices have subsequently been raised by only around Rs 11, implying further price hikes may be required for marketing margins to reach pre-November levels, and early FY23 marketing margins may also be under pressure,” reads the report.
