New Delhi, May 27 (IANS) The Rs 77,821 crore combined OMC profit for FY2025-26 is a 3 to 4 per cent net margin on combined turnover in the order of Rs 20 lakh crore, the working margin any healthy commodity refiner at this scale produces, according to the data.The Opposition is pointing to the OMCs’ Rs 77,821 crore combined profit in FY 2025-26 a 130 per cent jump over FY 2024-25, and calling it a windfall during a crisis.The truth is: Roughly half of this profit returns to the Government of Ind…
Latest OMCs News & Updates
New Delhi, May 21 (IANS) India’s leading state-run oil marketing companies (OMCs) — HPCL, IOCL, and BPCL — on Thursday assured customers that petrol, diesel and LPG supplies remain stable across the country, while urging people not to rely on rumours or unverified social media messages regarding fuel shortages.Taking to the microblogging platform X, Indian Oil Corporation (IndianOil), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) said fuel distr…
New Delhi, May 16 (IANS) The recent retail fuel price increase of Rs 3 per litre will trim mounting losses at oil marketing companies and provide up to Rs 52,700 crore worth of relief in their under‑recoveries, a report said on Saturday.The report from SBI Research said that the relief is equal to roughly 15 per cent of the expected total loss of OMCs in FY27.Under‑recoveries on petrol and diesel have surged because retail prices were kept unchanged amid rising Brent crude, with the governme…
New Delhi, April 21 (IANS) Even after escalation in West Asia conflict and rise in Brent crude oil prices due to the closure of Strait of Hormuz, the fuel prices remain unchanged in India, while many countries have witnessed a jump of up to 85 per cent.Data by Kotak highlighted a sharp divergence between India and both advanced and emerging countries, where consumers have faced increases in fuel prices so far this year, reports NDTV Profit.On the diesel front, prices have witnessed a sharp rise …
New Delhi, April 18 (IANS) The government on Saturday said that more than 17.25 lakh 5-kg FTL cylinders have been sold since March 23, adding that since April 3, PSU oil marketing companies (OMCs) have organised more than 6,450 awareness camps for 5-kg FTL cylinders, wherein more than 90,000 such cylinders were sold.These 5-kg FTL cylinders are at the disposal of the state governments for supplying only to migrant labourers in their states with assistance from OMCs.Meanwhile, total commercial LP…
New Delhi, April 15 (IANS) India’s wholesale price inflation (WPI) saw a rise in March, driven largely by higher global energy prices amid geopolitical tensions in West Asia, according to economists on Wednesday.Rahul Agrawal, Senior Economist at ICRA, said that the uptick was broad-based, with crude petroleum and natural gas, along with fuel and power.”Notably, these two groups together accounted for 150 basis points of the 175 basis points uptick in the headline print in March 2026 relative …
Chandigarh, April 7 (IANS) Haryana Chief Secretary Anurag Rastogi on Tuesday chaired a high-level meeting here to review the distribution of LPG cylinders, including 5 kg free trade LPG (FTL) cylinders, and the status of the piped natural gas (PNG) network in the state. At the virtual meeting, the Chief Secretary directed all Deputy Commissioners to ensure last-mile delivery of LPG cylinders, with special attention to rural areas. They were directed to closely monitor the distribution of FTL cyl…
New Delhi, April 4 (IANS) The government on Saturday said that 21 states/union territories are issuing and carrying out press briefs to effectively counter misinformation and to reassure citizens regarding adequate availability and smooth distribution of LPG.The government had requested Chief Secretaries of all States/UTs to intensify proactive and regular public communication, conduct daily press briefs at appropriate senior level, along with timely dissemination of accurate information through…
New Delhi, April 3 (IANS) Indian Oil Corporation (IOC) on Friday said that it is delivering around 28 lakh LPG cylinders daily as domestic gas supply across the country remains stable and adequate.The state-run oil firm said operations remain steady and consistent with normal levels, even amid evolving geopolitical challenges.IndianOil also reassured consumers that there is no shortage and advised against panic booking or stockpiling.“IndianOil continues to ensure uninterrupted LPG supply to h…
New Delhi, March 28 (IANS) BJD MP Sasmit Patra on Saturday said that the recent reduction in excise duty on petrol and diesel could result in a revenue loss of Rs 3-4 lakh crore for the Government of India, while also warning of broader economic challenges stemming from the ongoing West Asia conflict. Speaking to IANS, Patra said, “The conflict in West Asia naturally has a global impact, including on India. The excise duty cut will cost the Government of India a loss of around Rs 3–4 lakh cr…