Petrol-Diesel Price: OMCs May Reduce Prices Soon
Petrol and diesel prices in India may soon see a reduction as oil marketing companies (OMCs) have recovered most of their losses, according to a report. The companies are expected to make a decision soon about reducing the prices of petrol and diesel.
OMCs Can Cut Prices
Sources suggest that OMCs have room to reduce prices as they have recovered most of their losses. Additionally, the previous quarter has been good for the companies, and they are hoping for a good performance in the upcoming quarter as well. This means that they can afford to cut prices if they choose to.
Company Response
Oil companies have stated that they need to make a decision regarding production before they can decide on reducing prices. They are currently in a wait-and-watch situation. They have had a good previous quarter, but their losses are still high.
Conclusion
If OMCs do decide to reduce prices, it will be a relief for motorists who have been struggling with high petrol and diesel prices. The government has been under pressure to reduce prices, and a decision by OMCs to reduce prices would be welcomed by everyone.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com