{"id":37466,"date":"2018-11-23T18:18:22","date_gmt":"2018-11-23T12:48:22","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=37466"},"modified":"2018-11-23T18:18:22","modified_gmt":"2018-11-23T12:48:22","slug":"falling-crude-puts-omc-pricing-under-scanner","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/falling-crude-puts-omc-pricing-under-scanner\/","title":{"rendered":"Falling crude puts OMC pricing under scanner"},"content":{"rendered":"

Falling crude puts OMC pricing under scanner<\/a><\/p>\n

News:<\/strong><\/p>\n

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  1. Recently the Centre slashed excise duty on petrol and diesel to lower pump prices as global crude surged to a four-year record.<\/li>\n<\/ol>\n

    Important Facts:<\/strong><\/p>\n

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    1. The article discusses whether the oil marketing companies have recovered after this price cut and absorbed into their financials.<\/li>\n
    2. The OMCs had said that the total effect of price cut on their finances would amount to \u20b94,000-\u20b95,000 crore in this financial year.<\/li>\n
    3. Anomaly: <\/strong>The Indian basket of crude oil has seen prices fall almost 24% in one month after the price cut, whereas the price of petrol has fallen only 8.8% during that period.<\/li>\n
    4. Reasons for disparity in oil prices: <\/strong>While there will be a reduction in fuel prices if oil prices reduce, it won\u2019t be by the same percentage.<\/li>\n<\/ol>\n