The Economic Times

State oil companies lose 75,000 cr in Q1 on low prices: Oil minister Hardeep Singh Puri

State-run oil companies reported a significant loss of 74,781 crore in the April-June quarter due to selling fuel below market rates. Despite a global crude price drop, domestic pump prices remain unchanged as refiners process higher-priced crude. A reduction in retail fuel prices may be considered if current crude prices persist, while bulk diesel prices have narrowed the gap with retail rates.