Fuel under-recoveries at Rs 2.18 lakh crore, OMCs lost Rs 74,781 crore in Q1: Hardeep Singh Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Thursday that state-owned oil marketing companies (OMCs) have taken a hit of fuel under-recoveries to the tune of Rs 2.18 lakh crore up to June 2026, including losses on petrol, diesel and LPG carried forward from the previous financial year. OMCs incurred Rs 74,781 crore of under-recoveries during the June quarter as elevated global crude oil prices following the West Asia crisis increased the cost of supplying petrol, diesel and LPG below cost, he said.

The minister said OMCs reported under-recoveries of Rs 19,905 crore on petrol, Rs 14,481 crore on diesel and Rs 24,148 crore on LPG. The central government continued to shield consumers from the full impact of volatile crude oil prices while ensuring uninterrupted fuel supplies across the country.

Puri said the country's energy security remained intact despite the geopolitical tensions in West Asia, with no dry-outs, shortages or disruptions witnessed during the period.

"Our focus was on ensuring availability and affordability," the minister said.

Puri also said that the country successfully managed its energy requirements even during one of the most volatile phases in global oil markets.