New Delhi, July 2 -- State-owned oil marketing companies' (OMCs) suffered a total loss of Rs 74,781 crore upto June 30 for selling petrol, diesel, and liquefied petroleum gas (LPG) below cost in the period April-June 2026, amid a spike in global crude oil prices that raised input costs, Union Minister Hardeep Singh Puri said on Thursday.

Addressing a press conference on the West Asia crisis, the Union Minister of Petroleum and Natural Gas, said OMCs' total under-recovery, which includes petrol, diesel, and LPG from the previous year (Q4FY26 & Q1FY27), stood at Rs 2.1 lakh crore.

He highlighted that amid the ongoing West Asia crisis the country's fiscal framework successfully shielded consumers from the full impact of global crude oil vo...