India’s state-run oil companies are reportedly suffering losses of ₹700 crore to ₹1,000 crore per day as petrol, diesel and LPG prices remain unchanged despite a sharp rise in global energy prices amid the West Asia conflict.
According to estimates, the losses have touched nearly ₹30,000 crore a month as public sector oil firms continue to absorb the financial burden to prevent a fuel price hike for consumers.
The conflict has disrupted a significant share of India’s imports, including crude oil, LPG and natural gas. However, officials said state-owned companies have ensured uninterrupted fuel supply across the country without shortages or rationing over the past 10 weeks.
While several countries, including Japan and the United Kingdom, have increased fuel prices following the global energy spike, India has retained fuel prices at levels seen nearly two years ago.
