Oil Minister Hardeep Singh Puri said India has adequate fuel supplies for two months despite global disruptions, but warned that state-run oil companies could face losses of up to Rs 1 lakh crore in a quarter if crude prices remain elevated and fuel prices unchanged
The government has kept petrol and diesel prices unchanged despite reducing excise duty by Rs 10 per litre, using the relief to offset losses of oil marketing companies amid rising global crude prices and supply disruptions linked to West Asia tensions
