IOC, BPCL, HPCL could see margin pressure amid oil price spike: S&P

Indian oil companies like IOC, BPCL, and HPCL may see lower profits. This is because they might keep petrol and diesel prices steady to fight inflation. Crude oil prices have risen, impacting costs. S&P Global Ratings suggests the government could intervene with budgetary support or tax cuts. India relies heavily on sea routes for oil imports.