"oil-marketing-companies"

With global crude prices at over $69 a barrel mark, OMCs may have revise fuel prices upwards again if there is any further firming up.

The increase in the previous weeks has taken petrol to cross historic high levels of Rs 100 a litre in several cities across the country.

The oil marketing companies increased the petrol prices by 30 paise and diesel by 34 paise per litre on Sunday

The oil marketing companies in the city have increased the petrol prices by 31 paise and diesel by 27 paise per litre.

Accordingly, in the national capital, petrol continued to be sold at the new record high level of Rs 84.70 a litre while diesel prices remained at Rs 74.88 per litre.

OMC have had a good run in the first half of FY21 with higher inventory gains, fortunes may turn against the companies as lower oil prices in October and November months would result in inventory losses