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Petrol-Diesel Prices: Government oil companies are getting profit on selling petrol diesel. Companies are making profits after the fall in crude oil prices in the international market in recent months. This estimate has been expressed in the report of brokerage house ICICI Securities.
According to the report, government oil companies are getting a profit of 50 paise per liter on selling diesel between January and March in the fourth quarter of 2022-23. Whereas in the third quarter, these companies were incurring a loss of Rs 6.5 per litre. While in the January to March quarter 2022, these companies were incurring a loss of Rs 2.6 per liter on selling diesel. It is also a matter of loss that when there was recovery in the prices of crude oil due to the Russia-Ukraine war, there was a freeze on increasing the prices of oil companies. Due to this, the companies had to suffer losses in the three quarters of 2022.
However, government oil companies are making a profit of Rs 6.8 per liter on selling petrol in the January to March quarter. However, in the third quarter, companies were making a profit of Rs 10 per liter on selling petrol. Improvement in marketing margin and gross refining margin in the fourth quarter of $ 10 to 11 per barrel has increased the earnings of all three government oil companies. According to the brokerage house, there can be a jump of more than 3 times in the net profit of the companies.
In March 2023, there was a huge fall in the prices of crude oil, so it was believed that the companies could give relief to the common people from expensive petrol diesel. But due to the decision of OPEC countries to cut the production of crude oil, crude oil has again crossed $ 85 per barrel in the international markets. Due to this, the possibility of reduction in prices can turn water.
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