•Nomura report reveals Oil Marketing Companies (OMCs) continue to incur losses despite the Modi government's excise duty reduction on petrol and diesel.
•Skyrocketing crude oil prices internationally and controlled domestic retail prices are causing OMCs to lose Rs. 30-40 per liter on fuel sales.
•The government's Rs. 10 per liter excise duty cut is insufficient to make fuel sales profitable, as crude price increases far outweigh the concession.
•Despite global crude price hikes, domestic pump prices remain stable, forcing companies to bear massive losses on every liter sold.
•While refining profits offer some offset, companies like HPCL still face significant losses, indicating a need for market price adjustments or further government intervention.
