NEW DELHI, April 14 -- State-run fuel retailers are incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel as pump prices remain frozen despite rising global crude costs, industry sources said.

Despite deregulation, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) have not revised retail fuel prices since April 2022, even as international crude prices fluctuated sharply.

Crude prices surged from over USD 100 per barrel during the Russia-Ukraine war, eased to around USD 70 earlier this year, and climbed again to nearly USD 120 last month following the US-Israel attacks on Iran that raised supply concerns.

At the peak last month, the three f...