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- Oil Companies Earned A Daily Profit Of ₹116 Crore In 2025–26, As Crude Oil Prices Remained At Their Lowest Levels Since The COVID 19 Pandemic During The Previous Financial Year
Mumbai15 minutes agoAuthor: Gurudutt Tiwari
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Amid the Iran-US war, international Brent crude reached $ 126 per barrel on Thursday, which is the highest level in 4 years. However, later the price came down to $116. In such a situation, it is being told by quoting agencies that due to Iran war, the country’s oil companies are incurring a loss of Rs 2,400 crore every day due to expensive crude oil.
There is a loss of Rs 14 per liter on petrol and Rs 18 on diesel. Due to this, oil companies are pressurizing them to increase the price of petrol. Whereas the reality is that the average price of crude oil in the financial year 2025-26 was only $ 71 per barrel, which is the lowest after the Covid year 2020-21.
The war started on 28 February 2026 and by 27 February the price was $ 76 per barrel. In such a situation, crude prices have increased in just 2 months. According to government data, in the first 9 months of 2025-26, the country’s four leading oil companies earned a total of Rs 1.37 lakh crore. That means a profit of Rs 116 crore was earned every day.
For us the price of crude has dropped by $50.
1. What is the price of crude after Iran ceasefire?
Crude oil prices have fallen after the Iran-US ceasefire. The price of crude oil in the Indian basket, which had reached $150, has now come close to $100 per barrel.
2. What did the government do?
On March 27, the government increased the excise duty on petrol and diesel by Rs 10 each. Was cut. Due to this, revenue loss of about Rs 12,000 crore per month is estimated.
3. How is the government compensating the deficit?
The government has resorted to ‘windfall tax’ on the export of diesel. On April 11, the government increased the tax on diesel export to Rs 21.50. Per liter directly increased to Rs 55.5 per litre.
4. How much income is being generated from windfall tax?
On an average, 191 crore liters of diesel is exported from India every month. After increasing the windfall tax, the government will earn about Rs 10,500 crore from diesel exports alone. It is earning a monthly income of Rs. 50,000, which compensates the loss due to excise duty to a great extent.
5. What restrictions did the oil companies impose?
Companies are resorting to ‘rationing’ to reduce losses. Pump operators have been instructed to sell the stock equal to last year’s sales. Instructions have been given not to give more than 200 liters of diesel to any customer at a time, so that bulk supply to industries can be stopped.
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