Alongside, profits from converting oil into diesel have also surged and were at the highest since January 2020 in Asia.
The Indian refiner also benefited from gain in crude oil and fuel prices that inflated the value of its stockpile, leading to inventory gains.Ĭrude oil in New York averaged $70.56 a barrel in the first quarter compared with $40.96 a barrel a year earlier. While refiners globally are enjoying hefty margins as economies and offices reopen and spur fuel demand, some of these gains are being eroded by surging input prices.
This advertisement has not loaded yet, but your article continues below.
