IOC says oil PSUs froze fuel prices to avoid consumer pain

IOC says oil PSUs froze fuel prices to avoid consumer pain

With oil PSUs deciding not to hike petrol and diesel prices ahead of Karnataka elections, IOC Chairman Sanjiv Singh today said the company has decided to “temporarily moderate” prices to avoid sharp spikes and panic among consumers.

OPINION: Don’t go back on oil sector reform

OPINION: Don’t go back on oil sector reform

Share prices of PSU oil marketing companies like IOC, HPCL and BPCL tumbled on April 11 based on reports that government has asked them to accept a cut of one rupee in their marketing margins(i.e. not to increase prices in line with international prices).

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