From The Economic Times · PTI · · 50s
Oil Firms Lose Rs 530 Crore Daily as Crude Surges
Indian oil firms lose Rs 530 crore daily as crude prices spike
In brief
Indian oil firms lose Rs 530 crore daily as crude prices spike Oil marketing companies face Rs 530 crore daily losses due to crude price surges exceeding domestic fuel prices. Originally reported by The Economic Times.
Crude Prices Spike
Crude oil prices rose to USD 117.4 per barrel in September 2026, up from USD 66 in the 2025-26 average.
“The escalation of the West Asian conflict and disruptions to key oil supply routes have led to a spike in crude prices.”
Daily Fuel Losses
Indian oil firms lose Rs 8 per litre on petrol and Rs 9 per litre on diesel daily.
LPG Under-recoveries
LPG under-recoveries stand at Rs 300 per cylinder, with cumulative losses reaching Rs 61,940 crore.
Refining Margins
Singapore refining margins stayed above USD 10 per barrel due to refinery outages and supply disruptions.
Export Levies
Diesel and aviation turbine fuel export levies remain elevated at Rs 20 and Rs 15 per litre respectively.
In short
Oil marketing companies face Rs 530 crore daily losses due to crude price surges exceeding domestic fuel prices.
