NEW DELHI: State-owned fuel retailers IOC, BPCL and HPCL may suffer marketing losses in January-March 2022 quarter for holding petrol and diesel prices despite a rise in cost but robust core refining margins and windfall inventory gains should mitigate the potential losses in near term, Fitch Ratings said Tuesday.
The three fuel retailers kept petrol and diesel prices unchanged for a record 137-days between November 2021 and March 2022 despite a nearly USD 27 per barrel rise in crude oil prices.
