New Delhi, 6/3: Due to the Russia-Ukraine War, the price of crude oil continues to rise in the global market. Despite this, due to the assembly elections in five states, the price of petrol and diesel has not increased in the Indian market for four months.
ICICI Securities said in a report that government-owned retail oil companies have been suffering heavy losses due to rising global crude oil prices in the last two months. Domestic oil companies will have to increase the prices of petrol and diesel by Rs 12.1 per liter on or before March 16, 2022 only to cover the cost.