5/2/2024, 9:25:05 am

Price cuts for auto fuels unlikely before April

Sources say that due to low crude prices, state-run oil companies in India may cut retail prices of petrol and diesel before April elections. However, geopolitical tensions and uncertainties may delay this until the prices settle below $80 a barrel. This could also result in record-high profits for the oil companies in FY24. The government has reduced its budgeted equity support to the companies.