Reports indicate that the Federation of All India Petrol Traders, which accounts for 42,000 of India's 45,000 pumps, seek permission to retail the fuel products of private oil marketing companies like Essar Oil, Reliance Industries (RIL). Right now, according to an agreement with state-run OMCs, these traders can market the fuel of only the thre
Tag: OMCs
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OMCs’ under-recovery for diesel rises
Data released by the union petroleum ministry shows that the under-recovery of state-run oil marketing companies (OMCs) on sale of diesel has risen to 10.27 per litre for the second fortnight beginning February 16 from Rs 9.22 in the first fortnight of the month. This is despite the 45 paise per litre hike in diesel prices effected by these firms recently in the second dose of a
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OMCs’ under-recovery for diesel rises
Data released by the union petroleum ministry shows that the under-recovery of state-run oil marketing companies (OMCs) on sale of diesel has risen to 10.27 per litre for the second fortnight beginning February 16 from Rs 9.22 in the first fortnight of the month. This is despite the 45 paise per litre hike in diesel prices effected by these firms recently in the second dose of a
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Experts suggest aggressive steps on oil pricing reforms
Some industry observers and experts are not satisfied with the move to de-control diesel prices partially by the government and they seek more aggressive steps on this front. It may be recalled that recently, the government allowed oil marketing companies (OMCs) to raise diesel price
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Experts suggest aggressive steps on oil pricing reforms
Some industry observers and experts are not satisfied with the move to de-control diesel prices partially by the government and they seek more aggressive steps on this front. It may be recalled that recently, the government allowed oil marketing companies (OMCs) to raise diesel price
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201
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OMCs may decide individually on diesel price change
Reports suggest that oil marketing companies (OMCs) may decide on hiking diesel prices individually as collective decision invites suspicion of cartelisation from the Competition Commission of India (CCI). In 2010, Reliance Industries had petitioned CCI, alleging the government OMCs acted as a cartel while pricing their aviation turbine fuel supply for Air India, on a te
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OMCs may decide individually on diesel price change
Reports suggest that oil marketing companies (OMCs) may decide on hiking diesel prices individually as collective decision invites suspicion of cartelisation from the Competition Commission of India (CCI). In 2010, Reliance Industries had petitioned CCI, alleging the government OMCs acted as a cartel while pricing their aviation turbine fuel supply for Air India, on a te
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201
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Dual-pricing in diesel market creates leakages
Media reports suggest that the government's move to create dual-pricing system in the diesel market has created leakages with bulk buyers turning to retailers for taking advantage of lower prices. While oil marketing companies (OMCs) are allowed to charge market-determined price for bulk diesel buyers, they must charge a subsidised