New Delhi, Oct. 16 -- Oil marketing companies (OMCs) in India are facing estimated losses of up to Rs 30 per litre on petrol and diesel sales as rising crude procurement costs and elevated shipping charges continue to put pressure on their profitability, according to a Jefferies equity research report.

The report, titled "Energy Market Letter: Volume XXII", estimated that oil companies are currently incurring marketing losses of Rs 26 per litre on petrol and Rs 30 per litre on diesel, based on 15-day average pricing.

Highlighting the pressure on fuel retailers, the report stated, "Marketing margins deep in the red: Procurement cost for OMCs is similar to the Indian crude basket price of US$ 125/bbl, leading to steep losses."

The findin...