Crude Oil Surge Creating Fuel Crisis ?

Rising tensions in the Middle East have significantly impacted global crude oil prices, putting Indian oil marketing companies under severe financial pressure. Reports suggest that Indian Oil, Bharat Petroleum, and Hindustan Petroleum are facing daily losses of nearly Rs.1600 to Rs.1700 crore as they continue selling fuel at existing prices despite soaring crude costs. The losses are estimated to have crossed Rs.1 lakh crore in the last 10 weeks.

Experts now believe a petrol and diesel price hike may become unavoidable in India. Analysts say oil companies may need additional borrowing to manage crude imports and operational expenses. While the final decision rests with the central government, growing international fuel prices and mounting losses have increased speculation about a possible petrol price shock in the coming days.