Indian OMCs incur ₹530 cr daily losses; ₹8 per litre on petrol, ₹9 on diesel and ₹300 on LPG: ICRA
Indian oil marketing companies (OMCs) are losing ₹530 crore daily due to rising crude oil prices, with losses of ₹8 per litre on petrol, ₹9 on diesel, and ₹300 on LPG, according to ICRA. This situation is driven by geopolitical tensions and supply disruptions affecting crude oil prices. The ongoing losses may impact fuel pricing strategies in the near future.