Oil marketing companies (OMCs) are likely to make a windfall profit of Rs 5-7 per litre on the sale of petrol and diesel in the current financial year as pump prices remain largely unchanged despite softening crude oil price in the global markets, CRISIL said in a report.
Crude oil price averaged at $94 per barrel in the financial year ended March 2023. In the current financial year the average price of crude oil is projected at $80 per barrel. However, retail pump prices have remained unchanged since May 2022.
According to a CRISIL analysis, oil marketing companies incurred a marketing loss of Rs 8 per litre during the financial year 2022-23.
