{"id":431565,"date":"2021-08-23T11:39:37","date_gmt":"2021-08-23T06:09:37","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=431565"},"modified":"2021-08-23T12:45:34","modified_gmt":"2021-08-23T07:15:34","slug":"global-local-divide-in-fuel-omcs-making-up-for-under-recoveries","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/global-local-divide-in-fuel-omcs-making-up-for-under-recoveries\/","title":{"rendered":"Global-local divide in fuel: OMCs making up for \u2018under recoveries\u2019"},"content":{"rendered":"<p>While petrol and diesel prices are still at or near record-high levels in the country, international crude oil has fallen 13.9 per cent since the beginning of August.<\/p>\n<p>Industry sources told The Indian Express that Oil Marketing Companies (OMCs) might be withholding part of the benefit from the fall in international prices to compensate for under recoveries during earlier periods. Separately, Finance Minister Nirmala Sitharaman has ruled out reducing Central taxes on petrol and diesel, citing the financial burden of having to pay interest payments on oil bonds issued to OMCs for earlier under recoveries by the Congress-led UPA government.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While petrol and diesel prices are still at or near record-high levels in the country, international crude oil has fallen 13.9 per cent since the beginning of August. Industry sources told The Indian Express that Oil Marketing Companies (OMCs) might be withholding part of the benefit from the fall in international prices to compensate for under recoveries during earlier periods. Separately, Finance Minister Nirmala Sitharaman has ruled out reducing Central taxes on petrol and diesel, citing the financial burden of having to pay interest payments on oil bonds issued to OMCs for earlier under recoveries by the Congress-led UPA government.<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-431565","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/431565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=431565"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/431565\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=431565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=431565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=431565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}