Petroleum Companies: Petroleum companies have not increased the prices of fuel for 5 consecutive months, due to which the oil companies have suffered heavy losses. The country's top-3 petroleum companies have suffered a loss of $ 2.25 billion (about Rs 19,000 crore) from November to March 2022 due to non-increasing fuel prices despite the continuous rise in crude oil prices.
Losses to all three companies
Moody's Investors Service said in a report on Thursday that Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) have suffered this loss due to non-raising fuel prices.
Crude oil rose from $ 82 to $ 111
There was no change in fuel prices in the country between November 4, 2021, and March 21, 2022, despite a jump in crude oil prices. During this time, the price of crude oil was on an average of $ 111 per barrel in the first three weeks of March from $ 82 per barrel in November.
Oil prices increased on 22 and 23 March
Petroleum oil companies have increased the prices of petrol and diesel by 80-80 paise per liter on March 22 and 23. There was no hike in fuel prices on Thursday.
Moody's released the report
Moody's said in its report, "Based on current market prices, petroleum marketing companies are currently incurring losses of about $ 25 (over Rs 1,900) per barrel on the sale of petrol and $ 24 per barrel on diesel. The report said that if crude oil prices remain on average around $111 a barrel, IOC, BPCL, and HPCL could collectively lose $65 to 70 million daily on petrol and diesel sales. Is.
$2.25 billion in damage
Moody's said, "Based on our estimates of average sales volume during the first three weeks of November to March, there was a revenue loss of approximately $2.25 billion on petrol and diesel sales to public sector petroleum refining and marketing companies." Is.''
In the last few days, there has been a rift in the relations between Canada and India. India also
Congress leader Rahul Gandhi on Wednesday began his spiritual India Jodo Yatra by paying homage t
Gas Leak In Rudrapur: In the Rudrapur transit camp of Udhamsinghnagar district in Uttarakhand, a
National Achievement Survey 2021 Report: At least 44 percent of school teachers in the country do
Today is the 21st anniversary of the terrorist attack on the Parliament House, the temple of Indi
The Artillery Regiment of the Indian Army, from which the enemy's army is in awe. Now women are a
Continuous rain is wreaking havoc in Uttarakhand. A late-night cloudburst in Dehradun's Sahastrad
China has started the second day's military drill near Taiwan. During this, Chinese jets again en
Natasha Stankovic and Hardik Pandya split after announcing their divorce in July this year. Meanw
On the occasion of National Space Day, a special program was organized at Bharat Mandapam in New
