Petrol, Diesel Price Hike Alert: IOC, BPCL, HPCL Lose ₹1 Lakh Crore as Crude Shock Deepens
State-backed fuel giants in India have eaten up more than ₹1 lakh crore in under-recoveries over the last 10 weeks, piling on the heat for the government to rethink petrol and diesel pricing, though pump prices held steady Monday. Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp are racking up daily losses of around ₹1,600 crore to ₹1,700 crore, according to sources cited by PTI. The pressure is building as global crude prices surge, yet India keeps retail fuel prices fixed to protect buyers. Under-recovery refers to the difference between what’s charged locally and the cost tied to benchmarks. It doesn’t always translate to a straight cash loss, but higher crude bills can squeeze profits and tie up