Oil marketers oppose cut in retail fuel rates for now

Diesel constitutes about 40% of total refined fuel sales volume, while the share of petrol is less than 20%.

- Rajeev Jayaswal

NEW DELHI: State-run panies are reluctant auto fuel rates despite making a revenue gain of around 23 a litre on petrol, citing a 10 a litre loss on diesel and accumulated losses of over 25,000 crore losses in the last two quarters for selling fuel below market rates, people aware of the development said.

A cut at this point also does not make sense, these people added, since the sales volume of petrol is far lower than that of diesel, which means the gains are not enough to offset the losses. Diesel constitutes about 40% of total refined fuel sales volume, while the share of petrol is less than 20% oil comto slash Two people aware of the matter who spoke to HT said fuel pricing matters are being reviewed frequently, and while fuel rates that peaked in June 2022 have now eased considerably, the fall is not enough for price cut. "However, a final call will depend on the government after the month-end review," one of these people said.