Petroleum minister Hardeep Singh PuriNEW DELHI: State-owned oil marketing companies (OMCs) incurred losses of almost Rs 74,781 crore on the sale of petrol, diesel, and liquefied petroleum gas (LPG) during April-June as global crude oil prices surged amid the Middle East conflict, Union petroleum minister Hardeep Singh Puri said on Thursday.Addressing a press conference, Puri explained that the losses were a result of OMCs continuing to sell the three fuels below cost despite a sharp rise in input prices. He added that the cumulative under-recovery, including losses carried over from the previous quarter, had reached Rs 2.1 lakh crore.Despite the financial hit, the minister maintained that the government shielded consumers from global price volatility while ensuring uninterrupted fuel supplies."Why did we do well and come out of the crisis without any closures and dry outs? In the entire period of March, April, May and June, there were no dry-outs. By and large, there was no disruption, shortage or queues," Puri said.Although global crude prices have eased in recent weeks, refiners are still processing crude purchased at much higher prices, he noted.Puri also highlighted that petrol prices rose sharply in several neighbouring and European countries during the same period, while domestic retail prices remained stable. Looking ahead, he stressed that India is expanding crude storage capacity and strengthening ties with oil-producing countries to prepare for future supply disruptions. While India managed its domestic supply, petrol prices surged by 39.77% in Pakistan, 36.66% in Sri Lanka, 20% in Nepal, and 42.69% in Bangladesh.Among European nations, petrol prices went up by 17.74% in France, 19.05% in Germany, and 18.39% in Italy.Meanwhile, Puri also announced that refinery expansion projects underway would raise India's refining capacity to 300 million metric tonnes per annum."This will bring our refining capacity to 300 million metric tonnes per annum. This is a noteworthy and remarkable figure," he observed.(With ANI inputs)