India's Big 3 Oil Retailers Face Rs 47,700 Crore Q1 Loss
HPCL, BPCL, and IOCL are expected to post a combined EBITDA loss of up to Rs 47,700 crore in Q1FY27 as elevated crude prices, LPG under-recoveries, weak marketing margins, and rupee depreciation all hit at once. Analysts warn further fuel price hikes may be necessary if crude stays high.