Petrol, Diesel Price Hike Alert: IOC, BPCL, HPCL Lose ₹1 Lakh Crore as Crude Shock Deepens
India’s state fuel retailers have absorbed over ₹1 lakh crore in under-recoveries in 10 weeks as global crude prices surged, while pump rates stayed unchanged on May 11. Indian Oil, BPCL, and HPCL are losing up to ₹1,700 crore daily. Prime Minister Modi urged fuel conservation amid pressure on foreign reserves. The government has not announced a retail price hike.