By Admin 
- Oil companies are incurring huge losses on petrol and diesel.
- There has been no change in prices from April 2022.
- A continuous increase is being seen in the prices of crude oil.
- There is a possibility of increase in the prices of petrol and diesel after the elections.
Petrol Diesel Price Hike: The impact of the ongoing dispute between US-Iran is reaching Indian oil companies. Sale of petrol and diesel is now becoming a loss-making deal for government oil companies. In the current situation, there is a loss of about Rs 18 per liter on petrol and about Rs 35 per liter on diesel.
Despite the increase in costs, there has been no change in retail prices. Due to which the losses of companies are continuously increasing. Due to which there is a possibility of increase in oil prices.
Changes in crude oil prices
The prices of petrol and diesel are decided according to the market based system. However, Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have not made any change in the prices after April 2022.
During this period, there has been a lot of fluctuation in the prices of crude oil. After the Russia-Ukraine war, crude oil prices crossed $100 per barrel. By the beginning of the year 2026, the prices had definitely decreased and it had reached the figure of $ 70 per barrel. After this, the situation arising in the Middle East has again increased the prices. Prices have consistently remained above $100 per barrel.
Oil companies are facing huge losses
Talking about the figures, last month government oil companies were incurring a loss of around Rs 2,400 crore every day. However, now this loss has reduced to around Rs 1,600 crore per day.
The government’s move to reduce excise duty on petrol and diesel by Rs 10 per liter is being said to be the main reason behind reducing the loss. The government is taking such steps to balance the losses of companies.
Petrol and diesel prices may increase after elections
According to the report of Macquarie Group, the prices of petrol and diesel may increase after the elections in important states like West Bengal and Tamil Nadu are over at the end of this month. The report says that the risk of increase in pump prices after April is clearly visible.
This means that the government has kept the prices stable for the time being. But changes may be seen after the elections. Due to which the pockets of common people are going to be directly affected.
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