India's state oil firms face unprecedented crisis as crude surges while fuel prices stay frozen. Indian Oil, BPCL, and HPCL are bleeding cash at an alarming rate. Daily under-recoveries have hit Rs 1,000 to Rs 1,200 crore as crude oil prices jumped nearly 50 percent since Middle East tensions erupted. Yet petrol remains priced at Rs 94.77 per litre and diesel at Rs 87.67, rates frozen for two years. The three companies lose Rs 14 per litre on petrol, Rs 42 on diesel, and Rs 674 on cooking gas. First-quarter losses alone could wipe out the entire year's projected profit of Rs 76,000 crore, with cumulative losses now approaching Rs 1 lakh crore. This unsustainable situation threatens India's energy stability and corporate finances during a critical geopolitical period.
