Middle East conflict burns Indian oil firms: Rs 30,000 crore monthly hit to keep fuel prices stable

Indian state-run oil marketing companies are absorbing nearly Rs 30,000 crore monthly to keep fuel prices stable despite rising global energy prices triggered by the West Asia conflict. The government prioritizes shielding consumers from higher fuel costs, impacting the finances of oil companies. Excise duty cuts have helped mitigate the impact, avoiding steep retail price hikes seen globally.