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.
)
Timeline
Saturday, 3 October
- Diesel boom lifts Reliance and Nayara, leaves state-run OMCs bleeding
Private refiners Reliance and Nayara are cashing in on diesel export margins
- Oil shock bypasses petrol pumps, hits Indian businesses through raw-material costs
Oil shock is hitting Indian businesses through higher industrial raw-material costs, not petrol pumps
)