According to government sources, oil marketing companies (OMCs) are expected to reduce prices of petrol and diesel. The companies have shown positive quarterly results and have almost recovered their losses, indicating a return to normalcy.

The expectation for lower fuel prices stems from the fact that OMCs no longer face under-recoveries in petrol and diesel. Additionally, an oil production cut by one of the members of the Organization of the Petroleum Exporting Countries (OPEC) is believed to have minimal impact due to emerging alternative markets.