Fuel price hike: Can Centre shield OMCs with Rs 3 cushion, or will rupee flip the script?

The government increased fuel prices by Rs 3 per litre to support oil marketing companies facing losses due to high global crude oil prices and a weakening rupee. However, further rupee depreciation could negate these gains, with companies incurring significant daily losses. The price hike offers limited relief, covering only a fraction of projected losses.

By TOI BUSINESS DESK