Petrol, diesel prices: General elections 2019 may have forced oil companies to bear losses
The state-run oil marketing companies will also jump to balance their books. Indications are that these companies might be keeping the prices artificially low at the behest of the government so as to prevent consumer outrage.
An India Oil Corporation spokesperson said the domestic prices don`t entirely depend on the international crude prices. Domestic prices are usually affected in a fortnight after the global swing. Representational Image, source: PTI