India holds petrol, diesel prices as OMC under-recoveries widen on high crude
The government has no proposal to raise petrol or diesel prices despite the Indian crude basket topping $115 a barrel. State-owned fuel retailers are estimated to be losing about ₹5 per litre on petrol and ₹23 on diesel, with financial support possible if elevated crude prices persist.
What happened
Government of India · India has no proposal to raise petrol or diesel prices despite crude above $115 per barrel. State-owned fuel retailers face mounting
Key facts
- Indian crude basket: $115.27 per barrel as of September 22
- September average crude price: around $114.83 per barrel
- OMC under-recovery: around ₹5 per litre on petrol
- OMC under-recovery: around ₹23 per litre on diesel
Why this matters
Sustained regulated-price losses could make OMCs more receptive to partnerships that improve non-fuel retail, loyalty, supply efficiency, and alternative-energy revenue mix.