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Oil Marketing Companies (OMCs)
Oil marketing companies, chiefly the state-owned Indian Oil, BPCL and HPCL, refine crude oil and sell fuel through petrol pumps and LPG distributors. They are among India’s largest buyers of dollars.
Why It Matters
When the government wants to hold pump prices steady, OMCs often absorb the losses.
In India
In 2026 OMCs kept petrol and diesel prices frozen for months despite oil above $100, absorbing large per-litre losses.
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