Chennai: After earning a combined net profit of over Rs 34,000 crore in the first half of FY26, oil marketing companies are being offered excise duty cuts to cushion the margins, which went into negative territory in the past few weeks with the rise in crude oil prices due to Iran war. OMCs are most likely to increase the retail prices of petrol and diesel if crude prices go up further.According to the government, the Rs 10 per litre excise duty cut on petrol and diesel is meant to reduce the un...