{"id":609062,"date":"2023-10-09T09:38:17","date_gmt":"2023-10-09T04:08:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=609062"},"modified":"2023-10-09T09:48:44","modified_gmt":"2023-10-09T04:18:44","slug":"fuel-price-hike-unlikely-despite-oil-price-surge-as-polls-loom-moodys","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/fuel-price-hike-unlikely-despite-oil-price-surge-as-polls-loom-moodys\/","title":{"rendered":"Fuel price hike unlikely despite oil price surge as polls loom: Moody&#8217;s"},"content":{"rendered":"<p>Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody&#8217;s Investors Service said. <\/p>\n<p>Three state-owned fuel retailers &#8212; Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) &#8212; which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 18 months in a row. <\/p>\n<p>This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in first half of 2022-23 fiscal year before easing oil prices propelled them to profitability. <\/p>\n<p>International oil prices have firmed up since August, leading to margins of three retailers turning negative again.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody&#8217;s Investors Service said. Three state-owned fuel retailers &#8212; Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) &#8212; which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 18 months in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in first half of 2022-23 fiscal year before easing oil prices propelled them [&hellip;]<\/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":[135,130,169],"tags":[],"class_list":["post-609062","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/609062","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=609062"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/609062\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=609062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=609062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=609062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}