India's government increased petrol and diesel prices by Rs 3 per litre, citing significant losses for state-run oil companies due to soaring global crude oil prices and disruptions in West Asian shipping routes.

India's state-run oil companies are absorbing nearly Rs 30,000 crore in monthly losses to maintain stable petrol, diesel, and LPG prices amidst soaring global energy costs and supply disruptions caused by the Middle East conflict.

India's state-run oil companies are incurring substantial losses on petrol and diesel due to stable retail prices despite volatile global crude oil prices and a supply squeeze in the Strait of Hormuz.