Rapid fuel price hikes boost oil companies’ net marketing margins on petrol and diesel

Rapid price hikes since the beginning of last month have boosted state oil companies’ net marketing margin on petrol and diesel to nearly Rs 3 per litre, nearly six times the average margin in May.

Companies raised prices of petrol and diesel yet again on Tuesday, by 26-28 paise per litre. Fuel prices have been at record levels for months due to a combination of climbing oil prices in the international market, steep taxes and expanding marketing margins of oil companies.