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Market move▼ Bearish for Indian equities
Rising crude costs and unchanged pump prices squeeze fuel retailers
The brief
- Rising import costs and stagnant domestic retail rates are eroding retail margins
- Oil prices surged amid concerns over a third US aircraft carrier group heading to the Middle East
- Margin pressure weighs on Indian fuel retailers and oil marketing companies
- Govt warns Nayara, RIL-BP against fuel sales caps amid diesel curb reports
- Nayara says fuel supplies continue across 7,000-plus outlets
- Nobody is allowed to cap fuel sales: Petroleum Secretary
- Petrol, diesel prices may ease; No cap on private fuel sales: Petroleum Minister
- Govt May Force Rollback Of Diesel Caps Imposed By Private Retailers