The three fuel retailers kept petrol and diesel prices unchanged for a record 137-days between November 2021 and March 2022 despite a nearly USD 27 per barrel rise in crude oil prices
The two major OMCs were exhibiting a mixed trend on the charts, with HPCL reflecting positivity, while BPCL struggling to hold ground.
This will now be put up for approval by 'Alternative Mechanism' which is essentially a very small grouping of key Cabinet ministers, sources privy to the development said
While BPCL saw net sales at Rs 44,146 crore, a decline of 14 per cent over the year, HPCL's net sales at Rs 48322 crore too were lower than Rs 48,639 crore a year ago