State-owned fuel retailers losing nearly ₹600 crore daily despite price hikes

Petrol, diesel prices raised by ₹2.61-2.71; hikes top ₹7.5/litre within two weeks

India's state-owned oil firms raised petrol and diesel prices by ₹2.61–2.71/litre on Monday, the fourth hike in under two weeks, bringing cumulative increases to ~₹7.5/litre since May 15. Rising global crude costs and a weakening rupee are squeezing import margins for oil marketing companies, signaling sustained inflationary pressure on energy-intensive supply chains and logistics budgets across the region.