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Market move▲ Bullish for Reliance Industries
Diesel boom lifts Reliance and Nayara, leaves state-run OMCs bleeding
The brief
- Private refiners Reliance and Nayara are cashing in on diesel export margins
- State-run OMCs absorb losses as controlled pump prices meet rising domestic demand
- Refining margins support Reliance Industries, while controlled pump prices pressure listed oil-marketing companies
- Nayara raises petrol by ₹5, diesel by ₹3 per litre
- 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
- Govt May Force Rollback Of Diesel Caps Imposed By Private Retailers
Oil shock and its impact on Indian businesses
Higher oil prices are raising industrial raw-material costs for Indian businesses rather than immediately showing up at petrol pumps. Private refiners Reliance and Nayara are benefiting from diesel export margins, while state-run oil marketing companies face losses as controlled pump prices meet rising domestic demand.
Saturday, 3 October
- Diesel boom lifts Reliance and Nayara, leaves state-run OMCs bleeding