Petroleum marketing companies are expected to post a pre-tax profit of at least Rs 1 lakh crore in the current financial year due to higher retail prices in the domestic market and more or less low crude oil prices in overseas markets. This has been said in a report.
So far in the current financial year, the price of crude oil has come down by more than 30 percent as compared to a year ago. At the same time, petroleum companies have not reduced the prices during this period. There has been no change in oil prices since May, 2022.
