Why India’s oil marketing companies are losing over Rs 500 crore daily
India's oil marketing companies, including Indian Oil, Bharat Petroleum, and Hindustan Petroleum, are losing over ₹500 crore daily due to stagnant retail fuel prices amidst rising global crude oil costs. Currently, they face losses of ₹9 per litre on diesel and ₹8 per litre on petrol. If crude prices stay above $105 per barrel, further losses are expected this financial year.