Fuel Crisis 2026 LIVE: Why India's Finance Ministry Won't Bail Out OMCs | Iran US War Affects

CNN-News18
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2026年05月15日
Finance Ministry Couldn't Bear OMC's Losses: Government sources. Union Petroleum Minister Hardeep Singh Puri confirmed on May 12, 2026, that Indian OMCs (like IOCL, BPCL, and HPCL) are hemorrhaging this amount because global crude prices have surged to $115 per barrel while domestic retail prices have remained frozen for four years.


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