Public sector oil companies in India are facing a daily loss of ₹750 crore due to rising international crude oil prices. Although recent fuel price hikes reduced the loss from ₹1,600 crore, the crisis persists. The central government stated that there are currently no plans for a financial bailout package for these companies. Crude oil prices jumped over 60% since February due to West Asian conflicts and supply chain disruptions. The center also highlighted that state governments have not reduced VAT, further complicating the situation. https://keralakaumudi.com/news/news-360/national/oil-companies-face-rs-750-crore-daily-loss-after-fuel-price-hike-1749294 #creator program