Industry sources said the decision may be linked to a boost in profitability of the three firms in the current fiscal which has partly covered for the losses in the previous 2022-23 (April 2022 to March 2023) fiscal.
Ratings agency ICRA says marketing margins on retail sales of petrol and diesel for the Indian oil marketing companies have improved in the recent weeks with reduction in crude prices
The price reduction is likely to be in the range of Rs 4-Rs 6 per litre but it could be as high as Rs 10 per litre as well, sources told Business Today TV
Thailand's cabinet on Tuesday agreed to extend an excise tax cut on diesel for another two months to July 20 to help reduce the costs of living, a government official said on Tuesday.