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'Oil cos losing Rs 1,000 crore a day': Hike in prices imminent, hints Petroleum minister Hardeep Singh Puri
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'Oil cos losing Rs 1,000 crore a day': Hike in prices imminent, hints Petroleum minister Hardeep Singh Puri

Times of India · May 12, 2026, 11:37 PM

Why this matters: an international story with cross-border implications worth tracking.

Public sector oil companies are facing daily losses of Rs 1,000 crore, potentially forcing fuel price hikes soon. Minister Hardeep Singh Puri highlighted significant under-recoveries, warning that companies cannot sustain these losses indefinitely. While elections are not the reason for the freeze,

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