The brokerage warned that the recent rally in crude oil prices and refining margins is creating conditions reminiscent of the disruptions witnessed during the 2022 oil market shock.
The Indian government's decisive initiatives have helped oil marketing companies (OMCs) thrive in a volatile global environment, a report said on Tuesday.
Oil marketing companies (OMCs) on Sunday said that the price of commercial LPG gas cylinders will be reduced by by Rs 51.50, effective September 1.
The price pause comes after fuel prices increased on 41 days in the current financial year
Petrol price was at Rs107.83/litre on Sunday in Mumbai
With Thursday's increase, petrol is now being retailed at Rs 90.99 a litre and diesel Rs 81.42 a litre in the national capital.
Premium petrol, however, continues to remain over Rs 100 a litre in Mumbai and several other cities across the country.
With global crude prices at around $ 66 a barrel mark, OMCs may have to revise fuel prices upwards again if there is any further firming up.
Across the country as well the petrol and diesel price remained unchanged on Friday but its retail levels varied depending on the level of local levies on respective states.
Across the country as well the petrol and diesel prices remain static on Tuesday but its retail levels varied depending on the level of local levies on respective states.
