India’s Fuel Crisis Explained: OMC Losses, Panic Buying And Rising Costs | Fuel Inflation Worries

Added: 2026-05-26

[00:00:00]Oil marketing companies go got a whole lot of gas on the up with that will look back at the third quarter pretty good price rise kebab will go to come home but it is still in slightly less than 600 crores and money maharatna companies and they're very strong or only be a sub coffee you know some holiday some situation for some money and money to give money and money oil marketing company business got to be here will I mean I'm sure all of you will agree to come money company a profit money only to get lost money to money other people they sell to pay second money and money What do you want me to come home with you I think that it may do lost money Do you want me to give money money money money profit in company and so I got to be a company to be getting to some money money money money money company money money money company to be getting money money And we have Prakash who will take you through a more details on this let's go across and listen in.

[00:01:07]The oil ministry has confirmed that there is panic buying in some pockets as far as diesel sales are concerned there and there are various reasons for the sudden surge in sales and one of them is of course higher prices at private petrol pumps and therefore consumers are shifting to the PSUs owned retail outlets and therefore adequate measures are being taken to ensure sufficient availability of petrol and diesel along with that oil marketing companies are monitoring oil depot at regular intervals steps are being taken to ensure sufficient availability of petroleum products. In addition to that the oil ministry has also reiterated that OMC's are incurring huge losses not only on the sale of petrol and diesel but domestic LPG as well as Saudi CP has increased to $780 per tons. Therefore OMC's are incurring huge losses on the sales of on the sale of domestic LPG as well.

[00:02:03]Uh when it comes to under recoveries on petrol and diesel, uh the oil ministry has informed that on the back of hike in petrol and diesel prices, daily losses have come down to below rupees 600 crores. So, very significant development coming in. However, the ministry has reiterated that the OMC's have monitored the situation well. In fact, government wants uh OMC's to remain profitable and they're not indulging in profiteering. On the issue of uh you know, on the issue of high profits they have registered during the government has has informed that the profits of OMC's could be wiped out by uh quarter the first quarter losses in in in '14-'17. Therefore, uh you know, the situation is being monitored regularly. Efforts are being uh made to ensure sufficient availability of petrol and diesel, and they have reiterated that the oil marketing companies are still incurring losses on the sale of petrol and diesel.

[00:03:04]That indicates that the petrol diesel prices may go up further.

[00:03:10]All right, with that it's a wrap on this edition of uh Market Cafe. I'll take your leave. Thank you so much for tuning in. Don't go anywhere because the market is coming up next.