The price cut of Rs 2 per litre for petrol and diesel by the state-run oil marketing companies (OMCs)–Indian Oil Corp. (IOCL), Hindustan Petroleum Corp. (HPCL) and Bharat Petroleum Corp. (BPCL)–will erode their revenue and ebitda, according to analysts.
The government had announced the price cut with effect from March 15, a day before general election dates were announced.
