GENERAL23 Sept 2026
OMCs face ₹530 crore daily fuel losses as crude prices surge: Icra
Crude prices have jumped to $117.4 a barrel as West Asia tensions disrupt supply. That is hurting India's state-run fuel sellers, rating agency Icra says. Indian Oil, BPCL and HPCL lose ₹8 on every litre of petrol and ₹9 on diesel, roughly ₹530 crore a day. Liquefied petroleum gas (LPG) adds pressure too. Watch for retail price changes and plan for higher fuel costs.
Key Statutory Highlights
- The basket of crude oil India imports rose to $117.4 per barrel as on September 21, 2026, from the 2025-26 average of around $66 a barrel.
- Indian Oil, BPCL and HPCL are losing ₹8 a litre on petrol and ₹9 on diesel, while LPG under-recovery is about ₹300 per cylinder.
- Icra estimates the daily loss to these state-run oil marketing companies at ₹530 crore.
Actionable Advice for Taxpayers / Founders:If fuel is a large part of your business costs, review your transport and delivery budgets now and keep some cushion for price changes. Petrol and diesel rates may not stay where they are, so avoid assuming today's fuel cost will hold through the year.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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