Chennai, April 12 (TIWN) The Consortium of Indian Petroleum Dealers (CIPD) on Saturday demanded a financial stimulus package from the oil marketing companies (OMCs) as their members are incurring losses due to the Covid-19 induced lockdown.

In a letter to the three OMCs -- Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation -- the CIPD said that the lockdown has resulted in an economic slump and liquidity crunch for its members.

According to the letter, the margins have gone down drastically during lockdown as fuel sales have come down to about 10 per cent of the normal day sales, while costs remain the same, like employees' salaries, bank interests, evaporation losses and others that need to be reimbursed.