Oil marketing firms still losing money on petrol and diesel despite cheaper crude

Oil marketing companies continue to incur losses on sales of petrol and diesel, according to a Jefferies analysis. These losses have narrowed recently, with petrol losses now at Rs 12 per litre and diesel at Rs 27 per litre. The improvement follows a fall in the Indian crude basket price. Global crude supply has become considerably more stable. However, high freight rates remain a continuing obstacle for the sector.