Petrol and diesel unchanged today as OMCs under financial strain
Petrol and diesel prices didn't budge on Thursday, May 28, even though state-run oil companies are feeling the heat financially.
After four hikes earlier this month (adding up to ₹7.50 per liter), retail fuel rates in Delhi are still almost ₹13 below what OMCs need to break even.
With global crude costs climbing and tensions in West Asia, there's worry about more hikes coming soon.
Mixed city rates, OMCs lose ₹600cr/day
Prices shifted a bit across cities: Delhi stayed at ₹102.12 per liter, Kolkata at ₹113.47, and Mumbai at ₹111.18; Chennai dropped 43 paise to ₹107.77, while Jaipur jumped 46 paise to ₹112.98 per liter.
Even after recent increases, OMCs are losing nearly ₹600 crore daily (down from about ₹1,000 crore).
Officials warn these losses could wipe out profits in 2025 if things don't improve, leaving consumers bracing for possible price bumps ahead.