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

State-run oil marketing companies IOC, BPCL and HPCL are facing losses of about Rs 8 a litre on petrol and Rs 9 on diesel as crude prices surge while domestic fuel prices remain unchanged, rating agency ICRA said. The daily loss is estimated at Rs 530 crore, while LPG under-recoveries are around Rs 300 per cylinder.

23 Sep 2026 3:22 pm