India's state-run oil companies are incurring daily losses of Rs 600 crore despite multiple retail fuel price hikes, driven by persistently high global crude oil prices.
India's state-run oil companies (IOC, BPCL, HPCL) are bleeding ₹600 crore/day despite four retail price hikes in May, while the Centre loses ₹14,000 crore/month in excise revenue from duty cuts meant to cap pump prices. Sustained crude volatility will pressure India's fiscal deficit and current account balance, with downstream exposure hitting logistics and supply chain costs across sectors.
Centre is losing nearly ₹14,000 crore every month in revenue due to lower excise
May 25, 2026
05:10 pm
What's the storyIndia's state-run oil companies are facing severe financial pressure due to high global crude oil prices.
Despite several increases in retail fuel prices this month, the companies are still losing nearly ₹600 crore every day, Reuters reported citing government officials.
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