Equirus Report: Petrol-Diesel Prices May Rise Before Elections, Explaining Why and How Much

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Petrol-Diesel Prices May Surge Before Elections: Equirus Report Warns of OMCs' Mounting Losses

Petrol-Diesel Prices May Surge Before Elections: Equirus Report Warns of OMCs' Mounting Losses

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CNBC Awaaz•20-03-2026, 17:29

Petrol-Diesel Prices May Surge Before Elections: Equirus Report Warns of OMCs' Mounting Losses

•Equirus report indicates petrol and diesel prices may rise due to OMCs incurring significant losses (₹5-8/liter on petrol, ₹24-27/liter on diesel).
•Losses are driven by rising global crude oil and LPG prices, exacerbated by US-Israel-Iran tensions.
•Recent LPG cylinder price hike (₹60) aims to reduce government's burden by ₹12,000 crore, but OMCs' under-recovery remains high.
•Middle East instability, particularly concerning the Strait of Hormuz, poses a major risk to India's 85% LPG imports.
•Total under-recovery for OMCs reached ₹50,600 crore by December 2025; despite a ₹30,000 crore government package, a substantial gap persists, hinting at pre-election price hikes.

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