The Economic Times

$100 crude shock: Oil cos lose Rs 5/litre on petrol, Rs 23 on diesel as pump prices stay frozen

State-owned oil companies are facing negative marketing margins of Rs 5 per litre on petrol and Rs 23 on diesel as Brent crude crossed USD 100 a barrel amid escalating US-Iran tensions. With pump prices frozen for over three months, higher crude is also raising Indias import bill, inflation and currency pressures.