Global Oil Prices Remain Volatile, OMCs to Delay Petrol and Diesel Price Cuts, Awaiting Stability for Routine Revisions
India, the world’s third-largest consumer of crude oil, imports over 85% of its requirements. Despite the recent decline in global crude oil prices, public sector oil marketing companies (OMCs) are likely to hold off on reducing petrol and diesel prices and resuming daily price revisions. According to a senior official from the petroleum ministry, the…
