New Delhi: S&P Global Ratings on Friday said state-owned Indian Oil Corporation (IOC) faces rising pressure to balance fuel affordability with profitability as prolonged tensions in West Asia increase crude oil prices and squeeze marketing margins.
The ratings agency said disruptions in the Strait of Hormuz and elevated crude prices could widen the gap between domestic retail fuel prices and raw material costs, potentially hurting the company's earnings, cash flow and liquidity position over the next 12 months.
