Archive · 10 Sep 2026
Brent Crude Surges Above $100, Pressuring Indian Fuel Marketers
Oil prices around the world rose above $100 for each barrel of crude oil.
This happened after tensions between the United States and Iran increased.
Indian fuel companies are still selling petrol and diesel at unchanged domestic prices.
Because crude oil has become more expensive, these companies may be losing money on every litre sold.
The estimated loss is about ₹5 per litre for petrol and ₹23 per litre for diesel.
India buys nearly 90% of the crude oil it uses from other countries.
Higher prices could therefore make India’s imports much more expensive.
Indian refiners are looking for oil from more countries to keep supplies steady.
The companies may face greater pressure if the conflict continues.
Brent crude rose above $100 per barrel as tensions between the United States and Iran intensified.
Indian oil marketing companies may be losing about ₹5 per litre on petrol and ₹23 per litre on diesel while domestic prices remain unchanged.
Before the escalation, Brent crude traded at approximately $70-$75 per barrel.
India imports nearly 90% of its crude oil and about 50% of its natural gas requirements.
Indian refiners are increasing sourcing from Russia, Brazil and selected African suppliers to reduce geopolitical supply risks.
- Who
- Indian oil marketing companies and refiners, with India affected as a major crude importer.
- What
- OMCs are facing sharply reduced fuel-marketing margins and estimated losses after Brent crude rose above $100 per barrel.
- When
- Following the latest geopolitical escalation; the article also refers to an import-bill increase during April-July of FY27.
- Where
- The global crude-oil market, with the impact centered on India.
- Why
- Rising tensions between the United States and Iran have pushed up crude prices while Indian petrol and diesel prices remain unchanged.
- Brent crude price
- Above $100 per barrel after previously trading around $70-$75.
- Estimated petrol loss
- About ₹5 per litre for OMCs.
- Estimated diesel loss
- About ₹23 per litre for OMCs.
- India’s crude import dependence
- Nearly 90% of crude-oil requirements.
- India’s natural-gas import dependence
- Around 50% of requirements.
- FY27 crude import bill
- Rose 56.5% to $63.4 billion during April-July, despite nearly unchanged import volumes.
- Alternative suppliers
- Russia, Brazil and selected African countries.