Oil companies face profit squeeze amid stable fuel prices
pre-market1 source ↓written by the desknot a recommendation
Petrol and diesel prices remain unchanged at ₹94.77 and ₹87.67 per litre in Delhi, respectively, since May 2022. However, rising Brent crude prices near $110 and a weakening rupee at ₹93 are squeezing profit margins for oil companies, which import 85-88% of their crude. Analysts from Kotak Institutional Equities have issued a 'Sell' rating on IOCL, BPCL, and HPCL, indicating growing concerns over profitability.
Not investment advice. For informational purposes only.