New Delhi, March 3 -- Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL), and Bharat Petroleum Corporation (BPCL) - the state-run oil marketing companies (OMCs) - are likely to take a hit on auto fuel marketing margins if crude oil prices stay elevated in the near term.

The US-Israel attacks on Iran and the counterattacks by Tehran have driven crude oil prices to multi-month highs in recent sessions, as investor concerns grew that the ongoing conflict could lead to supply disruptions. These concerns intensified after Iran vowed a full closure of the Strait of Hormuz, through which nearly 20% of global oil flows and over 40% of India's crude imports transit.

Global benchmark Brent rose above $80 a barrel to reach the da...