Private fuel retailers are relieved at the state-run oil-marketing companies ending their 19-day retail fuel price freeze on Monday.
In a market dominated by state-run oil companies, private retailers, industry sources say, are forced to follow price trends set by state-run companies.
“This has always been the trend during elections. State-run oil companies do not hike prices in this period and all private fuel retailers are forced to follow suit,” said an executive of a private fuel retail firm.
On Monday, state-run oil companies raised retail prices of petrol and diesel after maintaining the status quo since April 24. Read More