VERIFIEDET Finance·23 Sept 2026negative

Oil firms face Rs 530 crore daily fuel losses as crude surges: ICRA

AI Summary

·State-run oil marketing companies IOC, BPCL and HPCL are incurring losses of approximately Rs 8 per litre on petrol and Rs 9 per litre on diesel.
·The surge in crude oil prices, coupled with unchanged domestic fuel prices, has led to an estimated daily loss of Rs 530 crore for these companies.
·Additionally, LPG under-recoveries are reported to be around Rs 300 per cylinder.