Indian OMCs fall as rising crude costs weigh

Hindustan Petroleum

23/03/2026 04:22

**Shares of Indian oil marketing companies down between 3.1% and 4.2% versus Nifty Oil and Gas .NIFOILGAS index down 1.6%

** BPCL BPCL.NS leads losses down 4.2%, HPCL HPCL.NS down 3.9%, and Indian Oil Corp IOC.NS  down 3.1%

**Brent crude futures LCOc1 edges down 1 cent to $112.18/barrel; up nearly 56% this month

**Cos raise industrial diesel prices by 22 rupees/litre and premium petrol by 2 rupees/litre

**Nomura says despite price increases, OMCs may continue losing money on diesel sales to industrial customers as total marketing segment costs currently exceed 140 rupees/litre

**Brokerage estimates EBITDA impact of 122 billion rupees, 76 billion rupees and 67 billion rupees for IOC, BPCL and HPCL respectively

**Brokerage also expects sharp increase in jet fuel prices from April 1; says fuel prices must rise to break-even levels of 160,000 rupees/kilolitre from current 96,638 rupees/kilolitre to match international prices and local taxes

**Month-to-date, BPCL down 25.3%, HPCL down 23.4% and IOC down nearly 23%

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))