LPG losses reach Rs 300/cylinder, OMCs’ petrol, diesel margins turn negative; daily hit at Rs 530 crore: ICRA

OMCs are facing mounting pressure as elevated crude oil prices push petrol and diesel marketing margins into negative territory, while domestic LPG losses have reached around Rs 300 per cylinder, ICRA said. The rating agency estimates OMCs are losing around Rs 530 crore daily, with unchanged domestic fuel prices and supply disruptions in West Asia adding to profitability and cash-flow...