Another oil price hike approved by ECC

ECC decided to enhance the Petroleum dealers margins on MS & HSD by Rs. 1.64/liter in four fortnightly installments of Rs. 0.41/liter w.e.f. from 15th September, 2023.

Moreover, OMCs margin on MS & HSD was decided to be enhanced by Rs. 1.87/liter in four fortnightly installments of Rs. 0.47/liter w.e.f 15th September, 2023.

Furthermore, after a detailed discussion, it was also decided by the ECC that in order to ensure efficiency and timeliness these margins shall be determined by OGRA on the basis of a systematic mechanism to be developed by OGRA after considering PSO’s operating cost for OMC and dealers.