ICRA flags Rs 530 crore daily fuel losses for IOC, BPCL and HPCL
Unchanged domestic petrol, diesel and LPG prices amid surging crude could cost state-run oil marketers about Rs 530 crore a day, tightening profitability, cash flows and working-capital needs, ICRA estimates.
What happened
Indian Oil Corporation · ICRA says IOC, BPCL and HPCL face estimated daily fuel losses of Rs 530 crore as domestic petrol, diesel and LPG prices remain
Key facts
- Rs 530 crore estimated daily losses for OMCs
- Rs 8 per litre loss on petrol
- Rs 9 per litre loss on diesel
- Rs 300 per domestic LPG cylinder under-recovery in September 2026
- USD 117.4 per barrel Indian crude basket price as of September 21, 2026
What changed
ICRA says IOC, BPCL and HPCL face estimated daily fuel losses of Rs 530 crore as domestic petrol, diesel and LPG prices remain unchanged despite sharply higher crude costs, pressuring profitability, cash flows and working-capital borrowing.
Why this matters
Fixed petrol, diesel and LPG prices against rising crude are creating an estimated Rs 530 crore daily loss for state-run fuel retailers, intensifying cash-flow and working-capital pressure.
What to watch
- Brent crude remaining above current levels for more than two to four weeks
- Daily changes in petrol, diesel and LPG administered retail prices
- Any government statement on OMC compensation, fuel taxes, LPG subsidies or inflation management
- IOC, BPCL and HPCL disclosures on marketing margins, inventory losses, debt and working-capital borrowings
- Rupee movement against the US dollar, which can amplify imported-crude costs