Crude turns cruel: Oil cos bleed Rs 23/ litre on diesel
Indian fuel retailers are experiencing significant financial strain, losing around Rs 5 per litre on petrol and Rs 23 on diesel, despite unchanged retail prices. This comes as the global benchmark, Brent crude, climbed above the USD 100-a-barrel mark, driven by the escalating tensions between Iran and the US. The Indian crude basket has also risen to around USD 109, leading to negative marketing margins for both petrol and diesel.
With fuel prices frozen for over three months, fuel retailers are bearing the brunt of the crude price surge.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
