Petrol, diesel losses: What oil firms are losing amid Hormuz supply squeeze

India's state-run oil companies are incurring significant losses, estimated at Rs 18 per litre on petrol and Rs 35 on diesel, due to unchanged retail prices amidst volatile global crude oil prices. Despite a government excise duty cut, these firms continue to face mounting financial strain, with potential price hikes anticipated post-state elections.

By TOI BUSINESS DESK