And now with oil prices going up, the sentiment can only improve. From April 24 onwards, Indian oil marketing companies had decided not to pass the oil price increases onto the customers. Also, inventory gains due to rising oil prices will also help them offset the losses. Net-net, I don't see a very big impact on the bottomlines of the oil marketing companies,” he added. However, private sector players and industry analysts have pointed out that there is a long way to go before this becomes a reality.

Source: The Hindu May 13, 2018 16:18 UTC