News: As per Hindustan Times, OMCs are incurring a marketing loss of Rs.10-12 per litre of diesel and petrol, as Brent crude prices hover above US$110/bbl and the companies are expected to take a similar price hike post March 7 to break even.
Views: As per media sources, the hike would likely be taken in a phased manner and the government is unlikely to take an excise cut prior to March 31. OMCs have not taken a price since November 4, 2021 while crude oil price have risen by 40%
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