The record
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- Indian Oil, Bharat Petroleum, and Hindustan Petroleum are currently losing money on each liter of petrol and diesel sold alongside LPG cylinders.
- These losses stem from global crude oil prices remaining high due to international geopolitical conflicts and supply chain disruptions.
- The cost of crude oil imports reached $117.4 per barrel on September 21, marking a significant increase from the previous fiscal year's average.
- This financial burden on oil marketing companies highlights the ongoing impact of global volatility on India's energy sector.
What to watch next
- Potential adjustments to domestic fuel prices by state-owned companies
- Impact of West Asian conflicts on global crude oil supply chains
- Further financial assessments of oil marketing companies by ICRA
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Named India · United States · Iran · Saudi Arabia · Bharat Petroleum · Hindustan Petroleum · Indian Oil · ICRA
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