Oil marketing companies plan to revise petrol, diesel prices daily in 5 cities from May 1 and going forward a nationwide rollout is expected. To discuss this and the business outlook, CNBC-TV18 spoke to B Ashok, Chairman, India Oil Corporation (IOC).
The fortnightly price revisions of petrol and diesel are basically done to neutralise the changes in international prices and by passing on this revision in pricing, we have been able to maintain the trend of pricing with that of international and this has also helped us maintain the margins, said Ashok.
The gross margins have been maintained around USD 2-2.50 per barrel.
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