2023-06-08 05:30:48
New Delhi: Indications are that the country’s oil companies may reduce the price of petrol and diesel. ANI reported the news citing government sources. It is reported that the companies may be ready to reduce the prices due to the fact that the companies have made up for the previous losses and also due to the good quarterly results.
Oil companies have performed well in the quarterly quarters. In the current scenario, there is no loss recovery from the companies. Earlier, even when crude oil prices fell in the international market, companies did not cut oil prices in India to cover losses.
One of the member countries of OPEC has announced that it will cut oil supply, but it is estimated that this will not affect India as there are alternatives. The Union Ministry of Petroleum has stated that there will be sufficient supply of petroleum and gas in India.
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