Indian oil firms losing ₹1,600 crore a day amid fuel price freeze: Report

Indian state-run oil companies are incurring losses of about ₹1,600 crore per day as retail prices remain unchanged despite rising global crude costs, PTI reported. Losses have widened to ₹18 per litre on petrol and ₹35 on diesel for Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum. The impact eased slightly after the government cut excise duty.