Across four tranches, state-owned oil-marketing companies have hiked prices of the two fuels cumulatively by about ₹7.5 per litre across four tranches. File image for representation only.
| Photo Credit: Sushil Kumar Verma
India’s state-owned oil-marketing companies are incurring under-recoveries of ₹30 on every litre of diesel sold and ₹6 per litre on petrol, Praveen Khanooja, Additional Secretary at the Union Ministry of Petroleum and Natural Gas (MoPNG) told reporters at the bi-weekly inter-ministerial briefing on the situation in West Asia on Monday (June 8, 2026).“Even now, when you buy diesel at ₹95.2 [per litre] in Delhi, balance ₹30 is borne by the oil-marketing companies and for petrol it is about ₹6 per litre,” he stated.Mr. Khanooja further informed that Indian OMCs are absorbing daily losses in the range of ₹600-₹700 crore from petrol, diesel and LPG combined on an industry basis.On April 23, officials at the union petroleum ministry had informed that the under-recoveries on the two vehicular fuels hovered at about ₹20 per litre for petrol and ₹100 per litre on diesel.This preceded the price hikes — the first of which was done May 15. Further, benchmark crude futures then were stationed consistently above $100 per barrel-mark.Across four tranches, state-owned oil-marketing companies have hiked prices of the two fuels cumulatively by about ₹7.5 per litre across four tranches.Further, as of Monday (June 8, 2026) late evening, brent crude futures were trading 1.87% higher over its previous close at $94.83 per barrel after having pared from an intra-day high of $98.07 per barrel amid a renewed episode of tensions in West Asia. Published - June 08, 2026 09:41 pm IST
