Decoded: Why state-run oil companies have not hiked petrol, diesel rates in March

State-run oil marketing companies (OMCs) have not revised fuel prices upwards for 10 straight days even as international crude oil rates continue to climb.

State-run oil marketing companies (OMCs) have not revised fuel prices upwards for 10 straight days even as international crude oil rates continue to climb. OMCs are likely to continue holding back petrol and diesel rates ahead of the assembly elections due later in the month. A Business Standard newspaper report, quoting two government sources, indicated that the Centre has informally asked three major OMCs to not revise fuel prices for the time being. It added that the informal directive came after talks between the Centre and states on cutting high rate of taxes on petrol and diesel remained inconclusive.