Petrol-Diesel Price: Pressure from oil companies to increase the price, loss of Rs 18,480 crore

Posted on 8th Aug 2022 02:29 pm by rohit kumar

After huge losses in the April-June quarter, three major state-owned oil companies have started pressurizing them to increase prices. They have incurred a loss of Rs 18,480 crore. This is the biggest loss in any one quarter so far. Hindustan Petroleum, Bharat Petroleum, and Indian Oil said they have incurred losses due to rising crude oil costs and keeping petrol and diesel prices stable since April 6.

 

The companies did not change the prices for 137 days due to the Uttar Pradesh assembly elections. However, at the end of March, it was increased by Rs 10 per liter.

 

Hindustan Petroleum Corporation Limited (HPCL) said it has suffered the highest ever loss which stood at Rs 10,197 crore. Whereas Bharat Petroleum Corporation Ltd. (BPCL) has suffered a loss of Rs 6,290 crore. Indian Oil has incurred a loss of Rs 1,993 crore.

 

Oil prices remained stable from April-June

 

From April-June, the three petroleum companies did not change their prices. Import crude oil prices stood at $109 per barrel during the quarter. But in the retail market, it was sold at $85-86 per barrel basis. However, oil companies are free to raise or lower prices. Despite this, they could not make any changes in the prices.

 

Also Read: Swiggy Moonlight Policy: Swiggy has brought Moonlighting policy for its employees, who will get this benefit

Other news

Divorce Case: Not living with a husband without solid reason is a kind of torture, court's comment in a divorce case

The Family Court of Madhya Pradesh has made an important comment on a divorce case. The Chief Jus

Sonakshi Sinha jumped into the controversy over Deepika Padukone's 8-hour shift demand, saying- 'Many actors have worked less than me...'

These days the issue of work shifts is hot in Bollywood corridors. After becoming a mother, Deepi

SA vs AFG T20 World Cup: Dream broken, heart wounded; Rashid Khan said something brave even after the defeat

While Afghanistan missed out on creating history, South Africa has thrown off the tag of chokers

ICC Rankings: Team India became number-1 in all formats, this feat happened for the first time in Indian cricket history

The Indian team has created history by securing the top spot in the latest Test team rankings rel

Wrestlers Protest: 'Dangal' ends on the road, Brij Bhushan Singh's first reaction to the announcement of wrestlers came to the fore

The statement of former WFI chief Brij Bhushan Sharan Singh has come to the fore in the matter of

Sanvrega Pakistan's 1200-year-old Valmiki Temple: It was occupied by the Christian family for 2 decades, freed after a long fight

The 1200-year-old Valmiki Temple in Lahore, Pakistan will be renovated. This temple was occupied

Cabinet expansion in Haryana soon: Yadav, women, and the world community will get representation, they are sure to become number two.

Haryana Chief Minister Nayab Singh Saini may soon expand his cabinet after meeting PM Narendra Mo

Parliament Security Breach: 'Someone else is the mastermind', many important revelations made in the case of a breach in the security of Parliament

On Wednesday, a case of some people entering the Parliament came to light. The police are investi

'Governor has no veto power, keeping bills pending is illegal', SC's important comment on Tamil Nadu Government vs Governor case

The Supreme Court on Tuesday made an important comment on the dispute between the Tamil Nadu gove

ICAI CA November 2022: ICAI CA November exam will start tomorrow, these guidelines will have to be followed

ICAI CA November 2022: The Institute of Chartered Accountants of India (ICAI) is all set to condu